Guideline Value for MF MITHILA NAGAR

Mf Mithila Nagar guideline value

The current guideline value of Mf Mithila Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Nayakkankuppam village and falls under the Walajabad SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Mf Mithila Nagar has changed

Looking at the revisions, the guideline value for Mf Mithila Nagar has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it was again recorded at Rs 200 per sq.ft. The 2017 revision had a lower figure of Rs 134 per sq.ft, indicating a decrease of 33% from the 2012 figure. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft in 2023. The latest revision in 2024 has not changed the value, maintaining it at Rs 200 per sq.ft, showing a 0% change from the previous year.

Guideline values in Nayakkankuppam

In Nayakkankuppam, there are 23 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 150 to Rs 403 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Mf Mithila Nagar.

• MF Mithila: Rs 200 per sq.ft (2024)
• Lakshman Avenue: Rs 150 per sq.ft (2024)
• Golden City: Rs 150 per sq.ft (2024)
• Gain Nagar: Rs 150 per sq.ft (2024)
• Ezhilarasi Nagar Phase-III: Rs 250 per sq.ft (2024)
• Ezhilarasi Nagar Phase-II: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Mf Mithila Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. 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 Mf Mithila Nagar?

The Sub Registrar Office that covers Mf Mithila Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Nayakkankuppam. It is the minimum value set by the government for properties in a specific area, ensuring that properties are registered at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mf Mithila Nagar?

The current guideline value of Mf Mithila Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a temporary drop to Rs 134 per sq.ft in 2017. It returned to Rs 200 per sq.ft in 2023 and has not changed in 2024.

What are the other streets in Nayakkankuppam?

Other streets in Nayakkankuppam include Lakshman Avenue, Golden City, Gain Nagar, Ezhilarasi Nagar Phase-III, and Ezhilarasi Nagar Phase-II, with guideline values ranging from Rs 150 to Rs 250 per sq.ft in 2024.

How is stamp duty calculated for properties in Mf Mithila Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft incurs a stamp duty of Rs 14,000.

Where can I find the Walajabad SRO?

The Walajabad SRO is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information by visiting the appropriate links.