Guideline Value for Soloman Street Extn

Soloman Street Extn guideline value

The current guideline value of Soloman Street Extn is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Soloman Street Extn has changed

The guideline value for Soloman Street Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. The increase from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023 represents a significant rise of 49%. The jump from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024 reflects a 9% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Soloman Street Extn is above this median.

• Soloman Street 1st Street: Rs 2,400 per sq.ft (2024)
• Solomon Nagar: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Soloman Street: Rs 2,400 per sq.ft (2024)
• Sowbakiya Lakshmi Street: Rs 950 per sq.ft (2024)
• Sivan Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Soloman Street Extn

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Soloman Street Extn?

The Sub Registrar Office that covers Soloman Street Extn is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This ensures that the transaction reflects a fair value according to the local real estate market, as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Soloman Street Extn?

The current guideline value of Soloman Street Extn is Rs 2,400 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 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Soloman Street Extn?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which office handles registrations for Soloman Street Extn?

The Selaiyur Sub Registrar Office handles registrations for Soloman Street Extn, located at No.36, Bharathmatha Salai, Chennai - 600 073.

How is the guideline value determined for properties in Selaiyur?

The guideline value for properties in Selaiyur is determined by the Registration Department and is based on various factors, including land classification and historical data from previous revisions.