Guideline Value for Thangam Nagar

Thangam Nagar guideline value

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

How the guideline value of Thangam Nagar has changed

The guideline value for Thangam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 167 per sq.ft, and this remained unchanged until the 2023 revision, which also recorded Rs 250 per sq.ft. The 2024 revision has maintained this figure, resulting in a 50% increase from the 2017 revision to the 2023 and 2024 revisions.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the guideline value has remained consistent at Rs 250 per sq.ft from 2023 to 2024, showing no change during this period.

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 is Rs 250 per sq.ft, which aligns with the guideline value of Thangam Nagar.

• 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 rate of Rs 250 per sq.ft, the 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, totaling Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 details.

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

The guideline value plays a crucial role when buying or selling property in Somangalam_B. It is used to determine the stamp duty and registration fees that must be paid during the registration process.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thangam Nagar?

The current guideline value of Thangam Nagar 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 since the 2023 revision, which was also Rs 250 per sq.ft. The previous revision in 2017 was Rs 167 per sq.ft, marking a 50% increase overall from 2017 to 2024.

What are the other streets in Somangalam_B with the same guideline value?

Other streets in Somangalam_B with the same guideline value of Rs 250 per sq.ft include Thangam Nagar-II, Thangam Nagar-III, and Thangam Nagar - III Extension.

How is stamp duty calculated in Thangam Nagar?

Stamp duty in Thangam Nagar is calculated based on 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 at 7%.

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.