Guideline Value for Kattabooman Street (Mungil Lake)

Kattabooman Street (Mungil Lake) guideline value

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

How the guideline value of Kattabooman Street (Mungil Lake) has changed

The guideline value of Kattabooman Street has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft. It rose to Rs 213 per sq.ft in 2003, marking a 13% increase. The value then increased to Rs 360 per sq.ft in 2007, a substantial rise of 69%. By 2017, the guideline value reached Rs 1,206 per sq.ft, which was a remarkable increase of 235% from the previous revision. The register has no figure for this street in 2012.

Continuing the trend, the 2023 revision set the value at Rs 1,800 per sq.ft, reflecting a 49% increase from 2017. The latest revision in 2024 has further increased the guideline value to Rs 1,980 per sq.ft, which is a 10% rise from the previous year. 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 in Pammal is Rs 2,090 per sq.ft, placing Kattabooman Street (Mungil Lake) below this median.

• Kattabooman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kattabooman Street (V.O.C. Nagar): Rs 2,750 per sq.ft (2024)
• Kattabomman Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Kasturibai Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kasturibai Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Kaveri Street / Anna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kattabooman 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, making the total cost for these fees 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kattabooman Street (Mungil Lake)?

The Sub Registrar Office that covers Kattabooman 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the property is registered at a value that reflects its market standing, as assessed by the government.

Frequently asked questions

What is the current guideline value of Kattabooman Street (Mungil Lake)?

The current guideline value of Kattabooman 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 significantly from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 953% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft. Kattabooman Street (Mungil Lake) is below this median at Rs 1,980 per sq.ft.

What are the stamp duty and registration fees for properties in Kattabooman Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are based on the guideline value.

Which office handles property registrations for Kattabooman Street?

The Pammal Sub Registrar Office handles property registrations for Kattabooman Street (Mungil Lake). It is located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.