Guideline Value for Solai 4th Street

Solai 4th Street guideline value

The current guideline value of Solai 4th 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 4th Street has changed

The guideline value for Solai 4th Street has undergone 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 this, the value saw significant increases, reaching Rs 1,200 per sq.ft in 2007 and Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023 before reaching the current value of Rs 4,900 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a change of 9%. The overall change from the 2002 revision to the 2024 revision is a remarkable increase of 1196%.

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 the same as the current value for Solai 4th Street.

• Solai 3rd Street: Rs 4,900 per sq.ft (2024)
• Solai 2nd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to 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 fees to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Solai 4th Street?

The Sub Registrar Office covering Solai 4th 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 SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions within Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the registration office will charge the stamp duty based on the higher of the guideline value or the sale price.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the financial implications when purchasing property in the area.

Frequently asked questions

What is the current guideline value of Solai 4th Street?

The current guideline value of Solai 4th 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 significantly from Rs 378 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 1196%.

What are the other streets in Ayanavaram with the same guideline value?

Other streets in Ayanavaram with the same guideline value of Rs 4,900 per sq.ft include Solai 1st Street, Solai 2nd Street, Solai 3rd Street, Solai Amman Koil Street, and Solai Street.

What fees are associated with buying property in Solai 4th Street?

When buying property in Solai 4th Street, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Solai 4th Street?

The Sub Registrar Office for Solai 4th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.