Guideline Value for Jeevanandhan Street / Mungil Lake

Jeevanandhan Street / Mungil Lake guideline value

The current guideline value of Jeevanandhan Street / Mungil Lake is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Jeevanandhan Street / Mungil Lake has changed

The guideline value for Jeevanandhan Street / Mungil Lake has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, which represented a 69% increase from the previous revision. By 2017, the guideline value surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase from 2007. The next revision in 2023 saw the value rise to Rs 1,800 per sq.ft, a 49% increase from 2017. Finally, the latest revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Jeevanandhan Street / Mungil Lake in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 953%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 value of Jeevanandhan Street / Mungil Lake below this median.

• Jeevanandham Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Jeevanandhan Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Jayatheerthan Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Jayatheeratha Rao Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Jayaram Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Jayaraman Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandhan Street / Mungil Lake

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the 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 Jeevanandhan Street / Mungil Lake?

The Sub Registrar Office that covers Jeevanandhan Street / Mungil Lake is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Jeevanandhan Street / Mungil Lake?

The current guideline value of Jeevanandhan Street / Mungil Lake is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing a total increase of 953% over the years.

What is the registration office for Jeevanandhan Street / Mungil Lake?

The registration office for Jeevanandhan Street / Mungil Lake is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

What is the land classification for Jeevanandhan Street / Mungil Lake?

The land classification for Jeevanandhan Street / Mungil Lake is Residential Class II Type - II, indicating its use for residential purposes.