Guideline Value for Thendral Nagar

Thendral Nagar guideline value

The current guideline value of Thendral Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Commercial Class I Type - I.

How the guideline value of Thendral Nagar has changed

The guideline value for Thendral Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The 2023 revision maintained this value, and the 2024 revision also continues with Rs 500 per sq.ft, reflecting a 0% change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 500 per sq.ft.

Guideline values in Somangalam

In Somangalam village, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Thendral Nagar's 2024 figure above this median.

• Thillai Nagar: Rs 200 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)
• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Thendral Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total cost of Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Thendral Nagar?

The Sub Registrar Office covering Thendral 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

The guideline value is a critical factor in property transactions in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps establish the official price of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thendral Nagar?

The current guideline value of Thendral Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a drop to Rs 335 per sq.ft in 2017 and a subsequent increase back to Rs 500 per sq.ft by 2023.

What is the land classification for Thendral Nagar?

Thendral Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

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

How is the stamp duty calculated for properties in Thendral Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000 at 7%.