Guideline Value for Solaiamman Street

Solaiamman Street guideline value

The current guideline value of Solaiamman Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Solaiamman Street has changed

Over the years, the guideline value for Solaiamman Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, the value significantly increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

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, the guideline value has increased by 22%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Solaiamman Street's 2024 figure equal to this median.

• Soundhariya Colony / Soundhariya Nagar: Rs 2,200 per sq.ft (2024)
• Sri Annai Avenue: Rs 2,200 per sq.ft (2024)
• Sri Arasu Avenue: Rs 2,200 per sq.ft (2024)
• Sri Devi Karumari Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue / Dhurgai Avenue & Annex: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solaiamman Street?

The Sub Registrar Office that covers Solaiamman 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 Selavoyal

The guideline value plays a crucial role in the registration of property transactions in Selavoyal. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value is essential for accurately assessing costs associated with the transaction. It ensures compliance with local regulations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Solaiamman Street?

The current guideline value of Solaiamman Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Solaiamman Street?

Solaiamman Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Solaiamman Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Solaiamman Street?

The Madhavaram Sub Registrar Office handles registrations for Solaiamman Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.