Guideline Value for Hi-tech city Extension

Hi-tech city Extension guideline value

The current guideline value for Hi-tech city Extension is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village, under the Sriperumpudur Sub Registrar Office (SRO), and is classified as Residential Class III Type - I.

How the guideline value of Hi-tech city Extension has changed

Looking back at the revisions, the guideline value for Hi-tech city Extension was Rs 200 per sq.ft in 2023 and Rs 134 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007. The 2012 revision also recorded a value of Rs 200 per sq.ft, which indicates a fluctuation in the values over the years.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Hi-tech city Extension is below this median.

• Indira Nagar: Rs 400 per sq.ft (2024)
• Hanuman Garden: Rs 200 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Green Garden: Rs 250 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Jayaram Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Hi-tech city Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hi-tech city Extension?

The Sub Registrar Office that covers Hi-tech city Extension is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

During the registration process, the guideline value is compared with the sale price, and the duty is charged on the higher of the two values. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Hi-tech city Extension?

The current guideline value for Hi-tech city Extension is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a decrease to Rs 134 per sq.ft in 2017, followed by increases to Rs 200 per sq.ft in 2012, 2023, and 2024.

What is the land classification for Hi-tech city Extension?

Hi-tech city Extension is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Hi-tech city Extension?

The Sub Registrar Office for Hi-tech city Extension is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For example, if the guideline value is Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.