Guideline Value for Solaiamman Koil 3rd Street

Solaiamman Koil 3rd Street guideline value

The current guideline value of Solaiamman Koil 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Solaiamman Koil 3rd Street has changed

The guideline value for Solaiamman Koil 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,700 per sq.ft as of the 2024 revision.

In terms of changes, the guideline value rose by 49% from 2017 to 2023, and then by 8% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Solaiamman Koil 3rd Street.

• Solaiamman Koil 1st 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)
• 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 Street (T.H. Road): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiamman Koil 3rd Street

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. Please 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 Solaiamman Koil 3rd Street?

The Sub Registrar Office that covers Solaiamman Koil 3rd 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 is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a baseline for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the established value of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Solaiamman Koil 3rd Street?

The current guideline value of Solaiamman Koil 3rd Street 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Solaiamman Koil 3rd Street?

Solaiamman Koil 3rd Street is classified under Residential Class I Type - I land classification.

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

Other streets in Kodungaiyur, such as Solaiamman Koil 1st Street, Solaiamman Koil 2nd Street, and Solaiamman Koil 4th Street, also have a guideline value of Rs 2,700 per sq.ft in 2024.

Where can I find the registration office for this area?

The registration office for Solaiamman Koil 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.