Guideline Value for SOLAIAPPAN STREET

Solaiappan Street guideline value

The current guideline value of Solaiappan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Solaiappan Street has changed

The guideline value for Solaiappan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017 before rising significantly to Rs 4,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft.

Between the revisions, notable changes include a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which means that Solaiappan Street's 2024 figure is below that median.

• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Solai Amman Koil Lane: Rs 4,900 per sq.ft (2024)
• Solai Amman 1st Cross 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 Solaiappan 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Solaiappan Street?

The Sub Registrar Office covering Solaiappan 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 an essential component in the registration process of property transactions in Purasaivakkam. It determines the minimum value at which properties must be registered and is used to calculate applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Solaiappan Street?

The current guideline value of Solaiappan 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 increased from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with notable changes occurring in various revisions.

What is the classification of Solaiappan Street?

Solaiappan Street is classified as Residential Class III Type - II under the Purasaivakkam SRO.

What are the stamp duty and registration fees for property in Solaiappan Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Solaiappan Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.