Guideline Value for THANGAM NAGAR

Thangam Nagar guideline value

The current guideline value of Thangam Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Karikili village under the Salavakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Thangam Nagar has changed

The guideline value for Thangam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 80 per sq.ft, which then decreased to Rs 54 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting an overall increase of 25% from the 2012 figure.

From 2017 to 2023, the guideline value rose by 85%, while there was no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karikili

In Karikili, there are 12 streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 116 per sq.ft. Thangam Nagar's 2024 guideline value of Rs 100 per sq.ft is below this median.

• Tncpda Colony: Rs 120 per sq.ft (2024)
• Tncpda Colony Extension: Rs 150 per sq.ft (2024)
• Veders Garden: Rs 120 per sq.ft (2024)
• Vijay Raja Nest: Rs 100 per sq.ft (2024)
• Nemichand Park: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 111 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. 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 Nagar?

The Sub Registrar Office that covers Thangam Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference for determining the value of property transactions in Karikili. It is used by the registration office to calculate the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value or the sale price is considered, and the higher of the two is used to determine the applicable fees. This ensures that the registration reflects a fair value based on the established guideline rates.

Frequently asked questions

What is the current guideline value of Thangam Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then to Rs 100 per sq.ft in both 2023 and 2024. Overall, this represents a 25% increase from the 2012 figure.

What is the median guideline value in Karikili?

The median guideline value in Karikili for 2024 is Rs 116 per sq.ft, with Thangam Nagar's value being below this median at Rs 100 per sq.ft.

What are the stamp duty and registration fees for a property in Thangam Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Thangam Nagar located?

The Sub Registrar Office for Thangam Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.