Guideline Value for Solomon Street

Solomon Street guideline value

The current guideline value of Solomon Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Solomon Street has changed

The guideline value for Solomon Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 2,000 per sq.ft. Finally, the current 2024 revision has raised the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. When looking at the overall change from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Solomon Street.

• Service Road(Maduravayul ByPass): Rs 1,650 per sq.ft (2024)
• Senthil Murugan Street: Rs 2,530 per sq.ft (2024)
• Sentamizh Sethu Pillai Street: Rs 2,530 per sq.ft (2024)
• Senganiamman Koil Street: Rs 2,530 per sq.ft (2024)
• Sellli amman Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Sathya Sayee Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Solomon 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 together to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solomon Street?

Solomon Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value plays a crucial role during property transactions in Irumpuliyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is important for buyers and sellers to be aware of the current guideline value to ensure that they are compliant with the registration requirements. The guideline value can influence the overall cost of the transaction, making it a key factor in property dealings.

Frequently asked questions

What is the current guideline value of Solomon Street?

The current guideline value of Solomon 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Solomon Street?

Solomon Street is classified as Residential Special Type - II under the current guidelines.

What are the other streets in Irumpuliyur?

There are several other streets in Irumpuliyur, including Service Road(Maduravayul ByPass), Senthil Murugan Street, and others, with varying guideline values.

Where is the Sub Registrar Office for Solomon Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059.