Guideline Value for Pillayar Koil Cross Street / Mungil Lake

Pillayar Koil Cross Street / Mungil Lake guideline value

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

How the guideline value of Pillayar Koil Cross Street / Mungil Lake has changed

The guideline value for Pillayar Koil Cross Street / Mungil Lake has seen significant changes over the years. In the 2002 revision, 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, a change of 69%. By 2017, it had further increased to Rs 1,206 per sq.ft, reflecting a substantial 235% growth. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from the previous figure. The current 2024 revision has raised the value to Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is noteworthy that there is no guideline value recorded for this street 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 that carry a 2024 guideline value, which ranges 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 Pillayar Koil Cross Street / Mungil Lake below the median.

• Pillayar Koil 3rd Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 2nd Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 2nd Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Pillayar Koil 1st Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Pillayar Koil 1st Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Pillayar Koil Cross 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, 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillayar Koil Cross Street / Mungil Lake?

The Sub Registrar Office that covers Pillayar Koil Cross 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 details.

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

The guideline value plays a crucial role during property registration in Pammal. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 Pillayar Koil Cross Street / Mungil Lake?

The current guideline value of Pillayar Koil Cross 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, reflecting an overall increase of 953% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7%, which is applied to the higher of the guideline value or the sale price of the property.

Where is the Pammal Sub Registrar Office located?

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

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft, which is higher than the guideline value for Pillayar Koil Cross Street / Mungil Lake.