Guideline Value for Solai Street

Solai Street guideline value

The current guideline value of Solai Street is Rs 181 per sq.ft, as per the 2024 revision. This street is located in Kunnam village under the Sunguvarchattram SRO, classified as Residential Class II Type - I.

How the guideline value of Solai Street has changed

Looking at the revisions, the guideline value for Solai Street has seen several changes over the years. The 2012 revision recorded a guideline value of Rs 200 per sq.ft, which decreased to Rs 134 per sq.ft in 2017. The value then increased to Rs 181 per sq.ft in both the 2023 and 2024 revisions, indicating a 35% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that there are no figures available for Solai Street in the 2002, 2003, and 2007 revisions. Overall, the guideline value has decreased by 10% from the 2012 figure to the current 2024 figure.

Guideline values in Kunnam

In Kunnam, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 660 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Solai Street's current value below this median.

• SriSakthi Nagar: Rs 350 per sq.ft (2024)
• Srivari Nagar: Rs 350 per sq.ft (2024)
• Star Lake Avenue: Rs 350 per sq.ft (2024)
• Road Street: Rs 250 per sq.ft (2024)
• Thirupathi Nagar: Rs 660 per sq.ft (2024)
• Prabu metha nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Solai Street

For a 1,000 sq.ft plot at the current rate of Rs 181 per sq.ft, the guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, bringing the total to Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Solai Street?

Solai Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Kunnam. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This process helps in maintaining uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Solai Street?

The current guideline value of Solai Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, and then to Rs 181 per sq.ft in both 2023 and 2024, indicating a 35% increase from 2017 to 2023.

What is the registration office for Solai Street?

Solai Street is registered under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What are the other streets in Kunnam with guideline values?

Other streets in Kunnam include SriSakthi Nagar, Srivari Nagar, Star Lake Avenue, Road Street, Thirupathi Nagar, and Prabu metha nagar, with guideline values ranging from Rs 200 to Rs 660 per sq.ft in 2024.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,81,000 would incur a stamp duty of Rs 12,670 at the rate of 7%.