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 Chinnivakkam village, under the Walajabad SRO, with a land classification of Residential Special Type - I.

How the guideline value of Thangam Nagar has changed

Over the years, the guideline value of Thangam Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision marked a significant increase to Rs 67 per sq.ft, reflecting a 49% increase from the previous revision. However, the revisions from 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 100 per sq.ft. The latest revision in 2024 shows no change from the 2023 figure, indicating a consistent valuation for this property.

Guideline values in Chinnivakkam

In Chinnivakkam, there are three streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value of Thangam Nagar is below this median.

• Sri Gold Township Phase-III: Rs 150 per sq.ft (2024)
• Green Garden: Rs 250 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. Please note that 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 Nagar?

The Sub Registrar Office that covers Thangam Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Chinnivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

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 seen various revisions, with the most recent being Rs 100 per sq.ft in both 2023 and 2024. The value was Rs 67 per sq.ft in 2017 and Rs 100 per sq.ft in 2012, reflecting a 49% increase from 2017 to 2023.

What is the land classification of Thangam Nagar?

Thangam Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the other streets in Chinnivakkam with guideline values?

Other streets in Chinnivakkam include Sri Gold Township Phase-III with a guideline value of Rs 150 per sq.ft and Green Garden with a guideline value of Rs 250 per sq.ft for 2024.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. It is the office responsible for property registrations in Thangam Nagar.