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_B village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class II Type - I.

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

The guideline value for Thangam Nagar - III Extension has undergone several revisions over the years. The 2017 revision set the value at Rs 167 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 250 per sq.ft. The 2024 revision also maintains this value at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, there has been a 50% increase in the guideline value. The 2023 to 2024 revision shows no percentage change, remaining constant at Rs 250 per sq.ft.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value for Thangam Nagar - III Extension.

• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 250 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 is charged at 7%, which totals Rs 17,500, and the registration fee at 2% amounts to Rs 5,000. Therefore, the total cost for stamp duty and registration fee is 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thangam Nagar - III Extension?

The Thangam Nagar - III Extension area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the transaction value for taxation purposes. This means that buyers should be aware of the guideline 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?

Since 2017, the guideline value has increased from Rs 167 per sq.ft to Rs 250 per sq.ft in 2023 and 2024, marking a 50% increase overall from 2017 to 2024.

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

The land classification for Thangam Nagar - III Extension is Residential Class II Type - I.

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

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

How is stamp duty calculated for properties in Thangam Nagar - III Extension?

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