Guideline Value for Thangam Nagar-III

Thangam Nagar-III guideline value

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

How the guideline value of Thangam Nagar-III has changed

The guideline value for Thangam Nagar-III has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which remained consistent until the 2017 revision, where it decreased to Rs 167 per sq.ft. Following this, the value increased by 50% to Rs 250 per sq.ft in 2023, and it has remained unchanged at Rs 250 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 50%. Overall, comparing the 2012 and 2024 figures, there has been no change in the guideline value, which stands at Rs 250 per sq.ft for both years.

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's current guideline value is below this median.

• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar - III Extension: 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

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

Which Sub Registrar Office covers Thangam Nagar-III?

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

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

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 transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

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

The current guideline value of Thangam Nagar-III 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, followed by a return to Rs 250 per sq.ft in 2023.

What are the guideline values of other streets in Somangalam?

Other streets in Somangalam have varying guideline values, ranging from Rs 150 to Rs 800 per sq.ft, with the median being Rs 350 per sq.ft. Thangam Nagar-III's value is below this median.

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

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

Where is the Sub Registrar Office for Thangam Nagar-III located?

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