Guideline Value for Solaiappan Street

Solaiappan Street guideline value

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

How the guideline value of Solaiappan Street has changed

The guideline value for Solaiappan Street has seen 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 dropped to Rs 1,340 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 2,000 per sq.ft, and then increased to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003. Overall, the guideline value has increased by 144% from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Solaiappan Street's 2024 figure above that median.

• Solaiappan 3rd lane: Rs 2,200 per sq.ft (2024)
• Solaiappan 2nd lane: 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 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, bringing the total fees to 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solaiappan Street?

Solaiappan Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To locate your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees, which are essential costs in any property transaction.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Solaiappan Street?

The current guideline value of Solaiappan 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 increased from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 144%.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 2,200 per sq.ft include Solaiappan 1st lane, Solaiappan 2nd lane, Solaiappan 3rd lane, and South Mada Church Street.

Where is the Royapuram Sub Registrar Office located?

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

How is stamp duty calculated in Tondaiarpet?

Stamp duty in Tondaiarpet is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.