Guideline Value for Thangam Nagar

Thangam Nagar guideline value

The current guideline value of Thangam Nagar is Rs 300 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 street is Residential Class III Type - II.

How the guideline value of Thangam Nagar has changed

Over the years, the guideline value of Thangam Nagar has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, the value dropped by 33% to Rs 167 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 300 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was an increase of 80%, while the overall change from 2007 to 2024 reflects a substantial increase of 500%. The register has no figures for the years 2002 and 2003 for this street.

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. The guideline value of Thangam Nagar is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Thangam Nagar?

The Sub Registrar Office that covers Thangam Nagar 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

When buying or selling property in Somangalam, the guideline value is a crucial factor during the registration process. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant and properly documented.

The guideline value serves as a benchmark for property transactions, helping to establish a fair value for the property being registered. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thangam Nagar?

The current guideline value of Thangam Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2024, reflecting an overall increase of 500% over this period.

What are the guideline values of other streets in Somangalam?

Other streets in Somangalam have varying guideline values, with Thangam Nagar-II, Thangam Nagar-III, and Thangam Nagar - III Extension all at Rs 250 per sq.ft, while Thendral Nagar is at Rs 500 per sq.ft, Thillai Nagar at Rs 200 per sq.ft, and Suganthi Nagar at Rs 400 per sq.ft.

What are the fees associated with buying property in Thangam Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

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