Guideline Value for Solaiappan 2nd lane

Solaiappan 2nd lane guideline value

The current guideline value for Solaiappan 2nd lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Solaiappan 2nd lane has changed

The guideline value for Solaiappan 2nd lane has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then saw a decrease to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a remarkable 122%. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Solaiappan 2nd lane is above this median.

• Solaiappan 1st lane: Rs 2,200 per sq.ft (2024)
• Solaiappan 3rd lane: Rs 2,200 per sq.ft (2024)
• Solaiappan Street: Rs 2,200 per sq.ft (2024)
• S.no 2996/1 to 10: Rs 10,100 per sq.ft (2024)
• South Mada Church Street: Rs 2,200 per sq.ft (2024)
• South Railway Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiappan 2nd lane

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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solaiappan 2nd lane?

The Sub Registrar Office that covers Solaiappan 2nd lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value for Solaiappan 2nd lane?

The current guideline value for Solaiappan 2nd lane 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 significantly from Rs 900 per sq.ft in 2007 to the current Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% since 2007.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 in fees.

Where is the Sub Registrar Office located for this street?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the guideline value determined for properties in Tondaiarpet?

The guideline value is determined by the Registration Department and is used to assess the value of properties for registration purposes, affecting the stamp duty and registration fees paid during property transactions.