Guideline Value for Solar Estate

Solar Estate guideline value

The current guideline value of Solar Estate, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Solar Estate has changed

The guideline value for Solar Estate has undergone several revisions over the years. In 2003, the guideline value was Rs 94 per sq.ft. This increased significantly to Rs 1,273 per sq.ft in 2017, marking a change of 1254%. The next revision in 2023 set the value at Rs 1,900 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has established the current guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from the 2023 value.

There are no figures available for the years 2002, 2007, and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2123%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which is equal to the current figure for Solar Estate.

• Sokkalingam Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar Extention: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar: Rs 2,420 per sq.ft (2024)
• Soosaiya Nagar: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar Adithi Avenue: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Solar Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty, charged at 7%, would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, these fees would total Rs 1,88,100. 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solar Estate?

The Solar Estate area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details at this link: find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Noombal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property in Noombal, both the buyer and seller should be aware of the current guideline value, as it impacts the financial aspects of the transaction, including the calculation of stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Solar Estate?

The current guideline value of Solar Estate is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 2123%.

What is the land classification of Solar Estate?

Solar Estate is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Solar Estate?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which office handles the registration for Solar Estate?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles the registration for Solar Estate.