Guideline Value for Solai Vazhi Amman Street (Narayanasamy Thottam)

Solai Vazhi Amman Street (Narayanasamy Thottam) guideline value

The current guideline value of Solai Vazhi Amman Street (Narayanasamy Thottam) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Solai Vazhi Amman Street (Narayanasamy Thottam) has changed

The guideline value for Solai Vazhi Amman Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, marking a substantial increase of 49% to the 2023 figure. The 2012 revision also had a guideline value of Rs 2,500 per sq.ft, indicating a decrease of 33% from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that have a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current value of Solai Vazhi Amman Street.

• Solaiamman Koil Street (T.H. Road): Rs 2,700 per sq.ft (2024)
• Solai Amman Koil Street (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Solaiamman Koil 4th Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 3rd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 2nd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Solai Vazhi Amman Street (Narayanasamy Thottam)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Solai Vazhi Amman Street (Narayanasamy Thottam)?

The Sub Registrar Office that covers Solai Vazhi Amman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Solai Vazhi Amman Street?

The current guideline value of Solai Vazhi Amman Street (Narayanasamy Thottam) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification of Solai Vazhi Amman Street?

Solai Vazhi Amman Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Which office handles the registration for properties in this area?

The Madhavaram Sub Registrar Office handles the registration for properties in Solai Vazhi Amman Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.