Guideline Value for Solai 1st Street

Solai 1st Street guideline value

The current guideline value of Solai 1st Street in Ayanavaram village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Solai 1st Street has changed

The guideline value for Solai 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 419 per sq.ft. It increased to Rs 470 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, which was an increase of +155%. Following this, in 2012, the guideline value was Rs 4,500 per sq.ft, reflecting a substantial increase of +275% from the previous revision. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of -33%.

The most recent revisions show an increase from Rs 3,015 per sq.ft in 2017 to Rs 4,500 per sq.ft in 2023, a rise of +49%. The current guideline value of Rs 4,900 per sq.ft from the 2024 revision represents a +9% increase from the 2023 figure. The register has no figures for the years not mentioned in this summary.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Solai 1st Street.

• Solai 2nd Street: Rs 4,900 per sq.ft (2024)
• Solai 3rd Street: Rs 4,900 per sq.ft (2024)
• Solai 4th Street: Rs 4,900 per sq.ft (2024)
• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Solai Street: Rs 4,900 per sq.ft (2024)
• Somaiah Raja Street, Chennai 82: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Solai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is 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 cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solai 1st Street?

The Sub Registrar Office that covers Solai 1st Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Ayanavaram, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

During registration, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Solai 1st Street?

The current guideline value of Solai 1st 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 from Rs 419 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, representing an overall increase of +1069%.

What is the registration office for Solai 1st Street?

The registration office for Solai 1st Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This is essential for the registration of property transactions.

What other streets have the same guideline value in Ayanavaram?

Other streets in Ayanavaram with the same guideline value of Rs 4,900 per sq.ft include Solai 2nd Street, Solai 3rd Street, Solai 4th Street, Solai Amman Koil Street, and Solai Street.