Guideline Value for Thangam Nagar - III Extension

Thangam Nagar - III Extension guideline value

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

How the guideline value of Thangam Nagar - III Extension has changed

Over the years, the guideline value for Thangam Nagar - III Extension has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged through the 2017 revision. The 2017 revision saw a decrease to Rs 167 per sq.ft, before returning to Rs 250 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 50%, bringing it back to Rs 250 per sq.ft. The most recent change from 2023 to 2024 saw no percentage change, keeping the guideline value stable at Rs 250 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Thangam Nagar - III Extension's current guideline value is below this median.

• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 300 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)
• Suganthi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Thangam Nagar - III Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangam Nagar - III Extension?

The Sub Registrar Office that covers Thangam Nagar - III Extension is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Somangalam, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When registering a property, the guideline value serves as a baseline for the transaction value, ensuring that the fees reflect the property’s worth according to official records. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thangam Nagar - III Extension?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing a return to Rs 250 per sq.ft in both 2023 and 2024. Notably, it decreased to Rs 167 per sq.ft in 2017 but was Rs 250 per sq.ft in both 2012 and 2023.

What is the land classification of Thangam Nagar - III Extension?

Thangam Nagar - III Extension is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thangam Nagar - III Extension?

The Sub Registrar Office for Thangam Nagar - III Extension is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Thangam Nagar - III Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a plot valued at Rs 2,50,000, the total fees would amount to Rs 22,500.