Guideline Value for SOLAI AMMAN KOIL LANE

Solai Amman Koil Lane guideline value

The current guideline value of Solai Amman Koil Lane is Rs 4,900 per sq.ft. This lane is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Solai Amman Koil Lane has changed

The guideline value for Solai Amman Koil Lane has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it saw a decrease to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft effective from 1 July 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has risen by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Solai Amman Koil Lane's current value below this median.

• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Solai Amman 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Solaiappan Street: Rs 4,900 per sq.ft (2024)
• Sir Ramaswamy Mudali Street: Rs 7,100 per sq.ft (2024)
• Shiva Shanmugapuram All Blocks: Rs 3,800 per sq.ft (2024)
• Shiva Shanmugapuram 2nd Street (Marai Malai Nagar): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Solai Amman Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Solai Amman Koil Lane?

The Sub Registrar Office covering Solai Amman Koil Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Solai Amman Koil Lane?

The current guideline value of Solai Amman Koil Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over this period.

What is the land classification for Solai Amman Koil Lane?

Solai Amman Koil Lane is classified as Residential Class III Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Solai Amman Koil Lane?

The Sub Registrar Office for Solai Amman Koil Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated on properties in Solai Amman Koil Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.