Guideline Value for Solai 3rd Street

Solai 3rd Street guideline value

The current guideline value of Solai 3rd Street is Rs 4,900 per sq.ft. 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 3rd Street has changed

The guideline value for Solai 3rd Street has seen several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 424 per sq.ft in 2003. Following that, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 4,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft. The most recent revisions show an increase to Rs 4,500 per sq.ft in 2023, and then a further rise to the current value of Rs 4,900 per sq.ft effective from 1 July 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1196%. The changes between specific revisions include a 9% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The revision from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 275%. The value also rose by 183% from 2003 to 2007, and by 12% from 2002 to 2003.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is the same as the current value for Solai 3rd Street.

• Solai 2nd Street: Rs 4,900 per sq.ft (2024)
• Solai 4th Street: Rs 4,900 per sq.ft (2024)
• Solai 1st 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 3rd 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 duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solai 3rd Street?

The Sub Registrar Office that covers Solai 3rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process for property transactions in Ayanavaram. It is the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Solai 3rd Street?

The current guideline value of Solai 3rd 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 378 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, with various revisions in between, including a significant rise of 275% from 2007 to 2012.

What is the land classification for Solai 3rd Street?

Solai 3rd Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

What are the stamp duty and registration fees for property in Solai 3rd 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 Solai 3rd Street located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.