Guideline Value for Pillayar Koil 1st Street / Mungil Lake

Pillayar Koil 1st Street / Mungil Lake guideline value

The current guideline value of Pillayar Koil 1st 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 Pillayar Koil 1st Street / Mungil Lake has changed

The guideline value for Pillayar Koil 1st Street / Mungil Lake has seen significant changes over the years. In 2002, the guideline 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 rise to Rs 360 per sq.ft in 2007, reflecting a 69% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,206 per sq.ft, a 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The current revision for 2024 is Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Notably, there is no figure recorded for this street in the 2012 revision.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Pillayar Koil 1st Street / Mungil Lake is below this median.

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

Stamp duty and registration fee for property in Pillayar Koil 1st 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, totaling Rs 1,78,200. It is important to note that 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 Pillayar Koil 1st Street / Mungil Lake?

The Sub Registrar Office that covers Pillayar Koil 1st 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership.

It is important for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The registration process relies on these values to ensure compliance with local regulations and to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Pillayar Koil 1st Street / Mungil Lake?

The current guideline value of Pillayar Koil 1st 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 significantly increased from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 953% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Pillayar Koil 1st Street / Mungil Lake's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Pillayar Koil 1st Street / Mungil Lake?

The Sub Registrar Office for Pillayar Koil 1st Street / Mungil Lake is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.