Guideline Value for TGM Nagar

TGM Nagar guideline value

The current guideline value of TGM Nagar, located in Vallam village under the Chengleput Joint I SRO, is Rs 850 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of TGM Nagar has changed

Over the years, the guideline value of TGM Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 185 per sq.ft. This value increased significantly to Rs 850 per sq.ft in 2012, marking a 359% rise. However, it then decreased to Rs 569 per sq.ft in 2017, which was a 33% drop. The value remained at Rs 850 per sq.ft in 2023, and there was no change in 2024, maintaining the same rate.

There are no figures available for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 shows a substantial increase of 359%, reflecting the fluctuations in the guideline values over the years.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with the median being Rs 1,000 per sq.ft. The guideline value of TGM Nagar is below this median.

• Thirumalai Govinthan Nagar: Rs 750 per sq.ft (2024)
• Sri Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• Vallalar Street: Rs 750 per sq.ft (2024)
• Sri Balaji Nagar: Rs 850 per sq.ft (2024)
• Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in TGM Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty charged at 7% would be Rs 59,500, while the registration fee at 2% would be Rs 17,000, making the total fees together Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TGM Nagar?

The TGM Nagar area falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Vallam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

Additionally, the guideline value helps ensure transparency in property transactions, preventing undervaluation and ensuring that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of TGM Nagar?

The current guideline value of TGM Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the most significant increase occurring from Rs 185 per sq.ft in 2007 to Rs 850 per sq.ft in 2012. The value has remained stable at Rs 850 per sq.ft from 2012 to 2024.

What is the stamp duty rate for property in TGM Nagar?

The stamp duty rate for property transactions in TGM Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for TGM Nagar located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

What are the guideline values of other streets in Vallam?

Other streets in Vallam have guideline values ranging from Rs 750 to Rs 1,000 per sq.ft. For example, Thirumalai Govinthan Nagar has a value of Rs 750 per sq.ft, while Sri Venkatesvara Nagar and Sri Ram Nagar both have values of Rs 1,000 per sq.ft.