Guideline Value for DABC Mithilam

DABC Mithilam guideline value

The current guideline value of DABC Mithilam is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of DABC Mithilam has changed

The guideline value for DABC Mithilam has seen significant changes over the years. The 2017 revision set the guideline value at Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of DABC Mithilam.

• Dabc Abinayam Phase III: Rs 4,355 per sq.ft (2024)
• Citilights Meadows: Rs 7,100 per sq.ft (2024)
• Church Street: Rs 3,300 per sq.ft (2024)
• Chinnanolambur & Other Street: Rs 3,300 per sq.ft (2024)
• Dr.J.J.Nagar Phase II (Nolambur Housing Scheme, TNHB, LIG,MIG,HIG.etc): Rs 8,800 per sq.ft (2024)
• Dr.J.J.Nagar Phase I (Jaswanth Nagar to Vembuliamman Koil St): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in DABC Mithilam

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, leading to a total cost of Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers DABC Mithilam?

The Sub Registrar Office that covers DABC Mithilam is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process when buying or selling property in 1. Nolambur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value to avoid penalties. The guideline value is also essential for property valuation and helps in maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of DABC Mithilam?

The current guideline value of DABC Mithilam is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, marking a total increase of 63% over these years.

What is the land classification of DABC Mithilam?

DABC Mithilam is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the registration office for DABC Mithilam?

The registration office for DABC Mithilam is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in DABC Mithilam?

The stamp duty for property in DABC Mithilam is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.