Guideline Value for THANGAM COLONY

Thangam Colony guideline value

The current guideline value of Thangam Colony, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thangam Colony has changed

The guideline value for Thangam Colony has seen significant changes over the years. In 2002, the guideline value was Rs 18 per sq.ft, which increased to Rs 20 per sq.ft in 2003. The value then rose to Rs 100 per sq.ft in 2007, followed by a further increase to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft. A substantial rise occurred from 2017 to 2023, where the value reached Rs 1,002 per sq.ft, remaining unchanged in the 2024 revision.

Overall, the guideline value has increased from Rs 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, marking an increase of 5,467% over this period. The revisions for the years not mentioned in the register do not have figures available for this street.

Guideline values in Kosappur

Kosappur village has a total of 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, which matches the guideline value for Thangam Colony.

• Thangam Colony Ext: Rs 1,002 per sq.ft (2024)
• Subam Colony Extn: Rs 1,002 per sq.ft (2024)
• Subam Colony: Rs 1,002 per sq.ft (2024)
• Thiyagi Viswanatha Dass Nagar: Rs 1,001 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, totaling Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangam Colony?

The Thangam Colony area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kosappur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may influence the overall cost of property transactions.

When a property is sold, the guideline value is used to calculate the applicable duties and fees. It is essential for both parties to understand that these charges are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value for Thangam Colony?

The current guideline value for Thangam Colony is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, reflecting a significant change over the years.

What is the land classification for Thangam Colony?

The land classification for Thangam Colony is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Thangam Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 90,180, based on the guideline value of Rs 10,02,000.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, serving the Thangam Colony area.