Guideline Value for Solai Nagar

Solai Nagar guideline value

The current guideline value of Solai Nagar, located in Pazhanthandalam village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Solai Nagar has changed

The guideline value for Solai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pazhanthandalam

Pazhanthandalam village features 57 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Solai Nagar's 2024 value below this median.

• Sivan Nagar: Rs 440 per sq.ft (2024)
• Sri Bhuvaneswari Nagar: Rs 440 per sq.ft (2024)
• Shridi Sai Nagar Extension IV: Rs 1,100 per sq.ft (2024)
• Shobha Green Park Phase -3: Rs 1,810 per sq.ft (2024)
• Shoba Green Park (S.No.315/2B): Rs 1,200 per sq.ft (2024)
• Shanmuga Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Solai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Solai Nagar?

The Sub Registrar Office that covers 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 Pazhanthandalam

The guideline value is a crucial component in the registration process for property transactions in Pazhanthandalam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When you register a property, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction adheres to the regulatory framework set by the Registration Department.

Frequently asked questions

What is the current guideline value of Solai Nagar?

The current guideline value of Solai Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Pazhanthandalam with similar guideline values?

Other streets in Pazhanthandalam with a guideline value of Rs 440 per sq.ft include Sivan Nagar and Sri Bhuvaneswari Nagar. Other streets have higher values, such as Shridi Sai Nagar Extension IV at Rs 1,100 per sq.ft.

What is the registration fee for property in Solai Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 4,40,000, the registration fee would be Rs 8,800.

Where can I find the Sub Registrar Office for Solai Nagar?

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