Guideline Value for SOLAIAPPAN STREET

Solaiappan Street guideline value

The current guideline value of Solaiappan Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is 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 2002, the value was Rs 1,239 per sq.ft, which increased to Rs 1,376 per sq.ft in 2003, marking an 11% rise. By 2007, the value further increased by 45% to Rs 2,000 per sq.ft. In 2012, the value reached Rs 5,000 per sq.ft, representing a significant increase of 150% from the previous revision. However, in 2017, the value decreased by 33% to Rs 3,350 per sq.ft. The next revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 5,000 per sq.ft. Finally, the current revision in 2024 set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Solaiappan Street's 2024 figure is below this median.

• Somasundaram Pillai Street: Rs 11,000 per sq.ft (2024)
• Soundarajan Street: Rs 6,600 per sq.ft (2024)
• South Boag Road Mtb Scheme: Rs 7,700 per sq.ft (2024)
• South Boag Road (Southern Side Of Thiagaraya Road): Rs 14,300 per sq.ft (2024)
• South Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• South West Boag Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solaiappan Street?

The Sub Registrar Office that covers Solaiappan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration process of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Solaiappan Street?

The current guideline value of Solaiappan Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,239 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 344% over the years.

What is the land classification of Solaiappan Street?

Solaiappan Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Solaiappan Street?

The Sub Registrar Office for Solaiappan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Solaiappan Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.