Guideline Value for SRI SOLAI NAGAR

Sri Solai Nagar guideline value

The current guideline value of Sri Solai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Padappai village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Solai Nagar has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, making the 2024 figure for Sri Solai Nagar above this median.

• Srishti Garden: Rs 990 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 830 per sq.ft (2024)
• Sri Thanthoniyamman Nagar: Rs 830 per sq.ft (2024)
• Sri Velan Nagar: Rs 830 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sai Baba Nagar Extn: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Solai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 Sri Solai Nagar?

The Sub Registrar Office that covers Sri Solai Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Padappai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the established values for different areas.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Solai Nagar?

The current guideline value of Sri Solai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the guideline values of other streets in Padappai?

Other streets in Padappai have varying guideline values, with the lowest being Rs 440 per sq.ft and the highest at Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft.

What are the stamp duty and registration fees for properties in Sri Solai Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 1,18,800.

Where is the Sub Registrar Office for Sri Solai Nagar located?

The Sub Registrar Office for Sri Solai Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.