Guideline Value for Thirupur Kumaran Street / Mungil Lake

Thirupur Kumaran Street / Mungil Lake guideline value

The current guideline value for Thirupur Kumaran 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 Thirupur Kumaran Street / Mungil Lake has changed

The guideline value for Thirupur Kumaran Street / Mungil Lake has experienced significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which rose to Rs 213 per sq.ft in 2003, marking an increase of 13%. The value then saw a substantial rise to Rs 360 per sq.ft in 2007, which is an increase of 69%. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, reflecting a remarkable increase of 235%. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, representing a 10% rise from the previous year.

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 an impressive 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 the 2024 figure for Thirupur Kumaran Street / Mungil Lake below this median.

• Thirupur Kumaran Street / Nagal Kenai: Rs 1,980 per sq.ft (2024)
• Thiruvalluar Street / Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Thirupoor Kumaran Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar 2nd Street, Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Thiruneermalai Salai / Nagalkeni: Rs 3,300 per sq.ft (2024)
• Thiruneermalai Salai/LIC Colony Part: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupur Kumaran 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, 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 further calculations.

Which Sub Registrar Office covers Thirupur Kumaran Street / Mungil Lake?

The Sub Registrar Office that covers Thirupur Kumaran 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 crucial factor in the registration process of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a transparent pricing mechanism. This value is used to determine the minimum price at which a property can be sold, which is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

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

The current guideline value of Thirupur Kumaran 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 changed significantly, from Rs 188 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 953%.

What is the stamp duty for property in Thirupur Kumaran Street / Mungil Lake?

The stamp duty for property in Thirupur Kumaran Street / Mungil Lake is calculated at 7% 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 does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum sale price and calculating the applicable stamp duty and registration fees during the registration process.