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_B village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thangam Nagar-III has changed

In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 250 per sq.ft. The most recent revision in 2024 saw no change from the previous year, maintaining the guideline value at Rs 250 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 50% increase in the guideline value, bringing it to Rs 250 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 50%, resulting in the current rate of Rs 250 per sq.ft.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry 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, making Thangam Nagar-III's 2024 figure equal to this median.

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

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, while the registration fee at 2% would be Rs 5,000, bringing the total to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thangam Nagar-III?

The Thangam Nagar-III area falls under 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_B

The guideline value plays a crucial role during property transactions in Somangalam_B. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of this value as it directly affects the costs associated with the transfer of property ownership.

When a property is bought or sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings within the region.

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 2023 to 2024. It increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Thangam Nagar-III?

Thangam Nagar-III 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?

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

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

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