Guideline Value for Hi-Tech City

Hi-Tech City guideline value

The current guideline value of Hi-Tech City, located in Kolathur village under the Sembiam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Hi-Tech City has changed

The guideline value for Hi-Tech City has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, the latest revision in 2024 marked a significant increase to Rs 4,400 per sq.ft, reflecting a 64% rise from the 2017 figure.

Between the 2012 and 2017 revisions, there was a decrease of 33%, bringing the value down from Rs 4,000 to Rs 2,680 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, highlighting the fluctuations in property valuation over the years. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, placing Hi-Tech City's guideline value above this median.

• Haridoss Street: Rs 3,300 per sq.ft (2024)
• Haridoss 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Harbour Colony: Rs 4,400 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Hi-Tech City

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Hi-Tech City?

The Sub Registrar Office that covers Hi-Tech City is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transfer.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Hi-Tech City?

The current guideline value of Hi-Tech City is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 figure at Rs 4,000 per sq.ft, dropping to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,400 per sq.ft in 2024.

What is the land classification for Hi-Tech City?

Hi-Tech City is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur include Haridoss Street at Rs 3,300 per sq.ft, Haridoss 2nd Cross Street and Haridoss 1st Cross Street both at Rs 2,700 per sq.ft, Harbour Colony at Rs 4,400 per sq.ft, and Indira Nagar 1st and 2nd Streets both at Rs 2,700 per sq.ft.

Where can I find the Sub Registrar Office for Hi-Tech City?

The Sub Registrar Office for Hi-Tech City is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.