Guideline Value for HiTech City

HiTech City guideline value

The current guideline value for HiTech City, located in Nallur village under the Sriperumpudur SRO, is Rs 175 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of HiTech City has changed

The guideline value for HiTech City has undergone several revisions over the years. The 2012 revision set the value at Rs 175 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 figure was a decrease from Rs 117 per sq.ft in 2017, marking a 33% drop. The 2023 revision again maintained the value at Rs 175 per sq.ft, which has now been carried forward to the 2024 revision with no change, resulting in a 0% increase from 2023 to 2024.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 175 per sq.ft. 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 Nallur

Nallur village has a total of 33 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 126 to Rs 700 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that the guideline value for HiTech City is below this median.

• Indira Nagar: Rs 250 per sq.ft (2024)
• Indra Nagar part - II: Rs 250 per sq.ft (2024)
• Kariman Nagar: Rs 150 per sq.ft (2024)
• Dharmasastha Nagar: Rs 350 per sq.ft (2024)
• KJR nagar: Rs 350 per sq.ft (2024)
• Krishna nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in HiTech City

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value would be Rs 1,75,000. The stamp duty at 7% would amount to Rs 12,250, and the registration fee at 2% would be Rs 3,500. Together, the total fees would be Rs 15,750. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers HiTech City?

The Sub Registrar Office that covers HiTech City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit this link.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the regulations set by the Registration Department.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and that the fees are accurately assessed based on the value of the property.

Frequently asked questions

What is the current guideline value for HiTech City?

The current guideline value for HiTech City is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft from 2012 to 2024, with a previous drop to Rs 117 per sq.ft in 2017. There were no figures available for the revisions in 2002, 2003, and 2007.

What are the guideline values for other streets in Nallur?

Other streets in Nallur have varying guideline values, ranging from Rs 126 to Rs 700 per sq.ft. The median value is Rs 250 per sq.ft, with HiTech City being below this median.

What are the stamp duty and registration fees for property in HiTech City?

For a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250 and the registration fee would be Rs 3,500, totaling Rs 15,750. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for HiTech City located?

The Sub Registrar Office for HiTech City is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.