Guideline Value for Solai Street

Solai Street guideline value

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

How the guideline value of Solai Street has changed

The guideline value for Solai Street has seen several revisions over the years. In 2002, the guideline value was Rs 438 per sq.ft, which increased to Rs 520 per sq.ft in 2003, marking a rise of 19%. The value continued to increase significantly, reaching Rs 1,200 per sq.ft in 2007, which represented a substantial increase of 131%. By 2012, the value was Rs 4,500 per sq.ft, reflecting a remarkable growth of 275% from the previous revision.

In 2017, the guideline value dropped to Rs 3,015 per sq.ft, showing a decrease of 33%. However, this was followed by a significant increase to Rs 4,500 per sq.ft in 2023, and then to the current value of Rs 4,900 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the value has increased by 1019%.

Guideline values in Ayanavaram

Ayanavaram village has 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 for these streets is Rs 4,900 per sq.ft, which is the same as the current value for Solai Street.

• Somaiah Raja Street, Chennai 82: Rs 5,500 per sq.ft (2024)
• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Solai 4th Street: Rs 4,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Solai 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. Together, the total cost for stamp duty and registration would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solai Street?

The Sub Registrar Office that covers Solai 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Solai Street?

The current guideline value of Solai 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 438 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 1019% over the years.

What is the land classification for Solai Street?

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

What are the stamp duty and registration fees for a property in Solai 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.

Which office handles registrations for Solai Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Solai Street.