Guideline Value for SOLAI AMMAN KOIL STREET

Solai Amman Koil Street guideline value

The current guideline value of Solai Amman Koil Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

Over the years, the guideline value of Solai Amman Koil Street has seen several revisions. 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 then decreased to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 9% rise. Overall, from 2007 to 2024, the guideline value has increased 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, with a median of Rs 5,500 per sq.ft. The guideline value of Solai Amman Koil Street is below this median.

• Solai Amman Koil Lane: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the 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, totaling Rs 4,41,000. It is important to note that 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 details.

Which Sub Registrar Office covers Solai Amman Koil Street?

The Sub Registrar Office that covers Solai Amman Koil Street 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 properties can be registered, ensuring that the transaction reflects the market conditions.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with the regulations set by the state government.

Frequently asked questions

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

The current guideline value of Solai Amman Koil Street 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 significantly 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 the years.

What is the land classification for Solai Amman Koil Street?

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

What are the other streets in Purasaivakkam with similar guideline values?

Other streets in Purasaivakkam with similar guideline values include Solai Amman Koil Lane, Solai Amman 1st Cross Street, and Solaiappan Street, all valued at Rs 4,900 per sq.ft in 2024.

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

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