Guideline Value for THANGAM NAGAR

Thangam Nagar guideline value

The current guideline value of Thangam Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Thangam Nagar has changed

The guideline value for Thangam Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This was followed by a decrease to Rs 167 per sq.ft in the 2017 revision. However, from 2017 to the 2023 revision, the value increased by 50% to Rs 250 per sq.ft. The current revision in 2024 maintains this value at Rs 250 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with the median being Rs 250 per sq.ft. Thangam Nagar's 2024 figure matches this median.

• Thangavel Nagar: Rs 250 per sq.ft (2024)
• Sv Nagar, Gangaiamman Nagar: Rs 226 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)
• Sun City Phase 1: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 226 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 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 Nagar?

The Thangam Nagar area falls under the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor during the registration of property transactions in Kizhnallathur & Melnallathur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair price as per government regulations.

When buying or selling property, it is essential to consider the guideline value, as it directly affects the stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thangam Nagar?

The current guideline value of Thangam Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a decrease to Rs 167 per sq.ft in 2017 and then returning to Rs 250 per sq.ft in 2023.

What is the registration office for Thangam Nagar?

The registration office for Thangam Nagar is the Manavalanagar Sub Registrar Office, located on Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated in Thangam Nagar?

Stamp duty in Thangam Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

What are the other streets with guideline values in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur include Thangavel Nagar, Sv Nagar, Gangaiamman Nagar, Thirumalai Nagar, Sun City Phase 1, Sri Vigneshwara Nagar, and Sri Venkateswara Nagar, with varying guideline values.