Guideline Value for THANGAM COLONY

Thangam Colony guideline value

The current guideline value of Thangam Colony, located in Villivakkam village, is Rs 12,100 per sq.ft, effective from 1 July 2024. This area falls under the jurisdiction of the Villivakkam SRO and is classified as Residential Class I Type - II.

How the guideline value of Thangam Colony has changed

The guideline value of Thangam Colony has undergone several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 1,056 per sq.ft. This increased to Rs 1,205 per sq.ft in 2003, marking a 14% rise. The value saw further growth, reaching Rs 1,750 per sq.ft in 2007, which is a 45% increase from the previous figure. In 2012, the guideline value was recorded again at Rs 11,000 per sq.ft, showing a significant increase of 529% from 2007. However, it dropped to Rs 7,370 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply by 49%, reaching Rs 11,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 12,100 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, there has been an increase of 1046% in the guideline value.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with the median value being Rs 4,900 per sq.ft. Thangam Colony's current guideline value is above this median.

• THANGAM COLONY "30th STREET": Rs 12,100 per sq.ft (2024)
• Thangam Colony "adhi Sankarar Street": Rs 12,100 per sq.ft (2024)
• Thangam Colony "church Cross Street": Rs 12,100 per sq.ft (2024)
• Thangam Colony "church Road": Rs 12,100 per sq.ft (2024)
• THANGAM COLONY " PILLAIYAR KOIL 2nd STREET": Rs 12,100 per sq.ft (2024)
• THANGAM COLONY " PILLAIYAR KOIL 3rd STREET": Rs 12,100 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 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total fees to Rs 10,89,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangam Colony?

The Thangam Colony area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Villivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is appropriately documented and taxed.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. Understanding the guideline value helps in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Thangam Colony?

The current guideline value of Thangam Colony is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,056 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, reflecting an overall increase of 1046% over this period.

What is the classification of land in Thangam Colony?

Thangam Colony is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees can amount to Rs 10,89,000.