Guideline Value for Kenndy Street / Mungil Lake

Kenndy Street / Mungil Lake guideline value

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

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

The guideline value for Kenndy 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 further rose to Rs 360 per sq.ft in 2007, reflecting a 69% increase. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, a substantial increase of 235% from 2007. However, there is no figure available for the year 2012 in the register.

In the subsequent years, the value continued to rise, reaching Rs 1,800 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, marking a 10% increase 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 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Kenndy Street / Mungil Lake's 2024 figure below that median.

• Kennadi Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Kesavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kiruba Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Kaveri Street / Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)
• Kaveri Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• K.M. Manjan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kenndy 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, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Therefore, the total cost for stamp duty and registration would be 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.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kenndy Street / Mungil Lake?

The Sub Registrar Office that covers Kenndy Street / Mungil Lake is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property. 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 is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the state.

Frequently asked questions

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

The current guideline value of Kenndy 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, marking an overall increase of 953% over the years.

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

Kenndy Street / Mungil Lake is classified as Residential Class II Type - II, which indicates its suitability for residential development.

What are the stamp duty rates applicable in Pammal?

The stamp duty in Pammal is charged at a rate of 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Kenndy Street / Mungil Lake?

The Sub Registrar Office for Kenndy Street / Mungil Lake is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can also find your SRO online.