Guideline Value for Solaiyappan Street

Solaiyappan Street guideline value

The current guideline value of Solaiyappan Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Solaiyappan Street has changed

Over the years, the guideline value of Solaiyappan Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 267 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking an increase of 87%. The value further rose to Rs 1,200 per sq.ft in 2007, reflecting a 140% increase. In 2012, the value reached Rs 3,500 per sq.ft, a jump of 192%. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,900 per sq.ft, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1361%. There are no figures available for the revisions in years not listed above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Solaiyappan Street's 2024 guideline value is above this median.

• S I S I Colony Samy Nagar: Rs 2,800 per sq.ft (2024)
• S I S I Colony: Rs 3,900 per sq.ft (2024)
• Sengazhani Amman Street: Rs 2,200 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street South: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street North: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for stamp duty and registration fees Rs 3,51,000. 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 Solaiyappan Street?

The Sub Registrar Office that covers Solaiyappan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Solaiyappan Street?

The current guideline value of Solaiyappan Street is Rs 3,900 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 267 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1361% over the years.

What is the land classification for Solaiyappan Street?

Solaiyappan Street is classified as Residential Class I Type - III, indicating its zoning for residential use.

Where can I find the registration office for Solaiyappan Street?

The registration office covering Solaiyappan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Solaiyappan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at a rate of 7%.