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 property is located in Somangalam_B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

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

Over the years, the guideline value for Hi-tech city Extension has undergone several revisions. The 2017 revision set the value at Rs 134 per sq.ft, which remained unchanged at Rs 200 per sq.ft in the 2023 revision. The latest 2024 revision also maintains this rate of Rs 200 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a 49% increase in the guideline value as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 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, charged at 7%, would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. Duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hi-tech city Extension?

The Hi-tech city Extension falls under the jurisdiction of 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_B

The guideline value is an important factor when registering property transactions in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the transaction is in compliance with the regulations set forth by the Registration Department.

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?

The guideline value for Hi-tech city Extension has remained at Rs 200 per sq.ft from 2023 to 2024. It increased by 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023 and 2024.

What is the median guideline value in Somangalam_B?

The median guideline value in Somangalam_B is Rs 250 per sq.ft, while Hi-tech city Extension's guideline value is below this median at Rs 200 per sq.ft.

What are the registration fees for property in Hi-tech city Extension?

The registration fees for property in Hi-tech city Extension include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 2,00,000, the total fees amount to Rs 18,000.

Which office handles registrations for Hi-tech city Extension?

The registrations for Hi-tech city Extension are handled by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.