Guideline Value for Kulandaigal Street / Mungil Lake

Kulandaigal Street / Mungil Lake guideline value

The current guideline value of Kulandaigal 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 Kulandaigal Street / Mungil Lake has changed

The guideline value for Kulandaigal 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 then rose to Rs 360 per sq.ft in 2007, reflecting a 69% increase. By 2017, the value further increased to Rs 1,206 per sq.ft, a substantial 235% jump. The next revision in 2023 set the value at Rs 1,800 per sq.ft, which was a 49% increase from the previous figure. The current value of Rs 1,980 per sq.ft from the 2024 revision represents a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. 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 as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Kulandaigal Street / Mungil Lake's 2024 figure below this median.

• Kulasekaran Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kulothungan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kumaran Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kumaraswamy Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Krishnasamy Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Krishnan Street, Nehru Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulandaigal 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 amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulandaigal Street / Mungil Lake?

The Sub Registrar Office that covers Kulandaigal 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 critical factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the established rates set by the government.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is a total increase of 953% over the years.

What is the registration fee for properties in Kulandaigal Street / Mungil Lake?

The registration fee for properties in Kulandaigal Street / Mungil Lake is calculated at 2% of the guideline value or sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is charged at a rate of 7% on the higher of the guideline value or the sale price. This ensures that the correct amount is paid during the registration process.