Guideline Value for INFO TECH CITY EXTENSION

Info Tech City Extension guideline value

The current guideline value for Info Tech City Extension in Nayapakkam village is Rs 500 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification and is registered with the Manavalanagar SRO.

How the guideline value of Info Tech City Extension has changed

The guideline value for Info Tech City Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 335 per sq.ft. The 2023 revision maintained the value at Rs 500 per sq.ft, and the 2024 revision also remains at Rs 500 per sq.ft, showing no change from the previous year.

From 2012 to 2024, the overall change in guideline value is 0%. The 2017 to 2023 period saw a significant increase of 49%, while the values for the years 2002, 2003, and 2007 have no figures listed in the register for this street.

Guideline values in Nayapakkam

Nayapakkam village has a total of 16 streets under the Manavalanagar SRO that carry a guideline value for 2024, ranging from Rs 400 to Rs 900 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which aligns with the guideline value for Info Tech City Extension.

• Infotech City: Rs 500 per sq.ft (2024)
• Golden Avenue Part II: Rs 500 per sq.ft (2024)
• Golden Avenue Part I: Rs 500 per sq.ft (2024)
• Golden Avenue: Rs 500 per sq.ft (2024)
• Spanish City: Rs 600 per sq.ft (2024)
• Sree Maharish Enclave Phase I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Info Tech City Extension

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Info Tech City Extension?

The Info Tech City Extension is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is used to calculate the stamp duty. This ensures that the fees reflect the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Info Tech City Extension?

The current guideline value for Info Tech City Extension is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in 2012, 2023, and 2024. There was a significant increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017.

Where can I find the registration office for Info Tech City Extension?

The registration office for Info Tech City Extension is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What are the stamp duty rates applicable in Nayapakkam?

The stamp duty rate in Nayapakkam is typically 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration of property transactions.

How do I calculate the registration fees for a property?

The registration fee is generally calculated at 2% of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.