Guideline Value for Solaiappan 3rd lane

Solaiappan 3rd lane guideline value

The current guideline value of Solaiappan 3rd lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Solaiappan 3rd lane has changed

The guideline value for Solaiappan 3rd lane has undergone several revisions over the years. The earliest recorded revision was in 2007, when the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 122% rise. However, it decreased to Rs 1,340 per sq.ft in 2017, which was a decline of 33% from the previous figure. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, representing a 49% rise. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 figure.

There are no recorded figures for the years 2002 and 2003 for this street. 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, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing the 2024 figure for Solaiappan 3rd lane above this median.

• Solaiappan 2nd lane: Rs 2,200 per sq.ft (2024)
• Solaiappan Street: Rs 2,200 per sq.ft (2024)
• Solaiappan 1st lane: 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 3rd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Solaiappan 3rd lane?

The Sub Registrar Office that covers Solaiappan 3rd 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 is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Solaiappan 3rd lane?

The current guideline value of Solaiappan 3rd 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 from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a decrease and subsequent increases.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, which is below the current value of Solaiappan 3rd lane.

What are the stamp duty and registration fees for properties in Solaiappan 3rd lane?

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.

Which office handles property registrations for Solaiappan 3rd lane?

The Royapuram Sub Registrar Office handles property registrations for Solaiappan 3rd lane, located at 535, Tondaiyarpet High Road, Chennai 600021.