Guideline Value for Solai 2nd Street

Solai 2nd Street guideline value

The current guideline value of Solai 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Solai 2nd Street has changed

The guideline value for Solai 2nd Street has seen several revisions over the years. In 2002, the value was Rs 458 per sq.ft, which increased to Rs 514 per sq.ft in 2003, marking a 12% rise. The value then experienced a significant increase to Rs 1,336 per sq.ft in 2007, representing a 160% change. Following this, the guideline value rose to Rs 4,500 per sq.ft in 2012, a 237% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, reflecting a 33% decline. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 970%. There are no figures available for revisions in years other than those listed.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values for 2024 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 the same as the current value for Solai 2nd Street.

• Solai 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Solai 2nd Street?

The Sub Registrar Office that covers Solai 2nd 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 more information.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transaction. This ensures that the government receives the appropriate revenue from property sales, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Solai 2nd Street?

The current guideline value of Solai 2nd 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 458 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 970% over the years.

What are the stamp duty and registration fees for property in Solai 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which Sub Registrar Office covers Ayanavaram?

The AnnaNagar Sub Registrar Office covers Ayanavaram, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Solai 2nd Street?

Solai 2nd Street is classified as Residential Class I Type - III, indicating its designation for residential use within the area.