Guideline Value for MF Mithila

MF Mithila guideline value

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

How the guideline value of MF Mithila has changed

Over the years, the guideline value of MF Mithila has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, indicating stability in this period.

Guideline values in Nayakkankuppam

Nayakkankuppam village has 23 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 150 to Rs 403 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is equal to the current value for MF Mithila.

• MF Mithila Nagar: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers MF Mithila?

The MF Mithila area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nayakkankuppam. It is used to determine the stamp duty and registration fees applicable for the property being bought or sold, ensuring that all transactions are conducted with transparency and adherence to legal requirements.

When buying or selling a property, the guideline value is compared with the sale price. The higher of the two values is taken into account for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of MF Mithila?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024, showing a 49% increase from 2017 to 2023.

What is the land classification for MF Mithila?

MF Mithila is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in MF Mithila?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would be Rs 18,000.

Where can I find the Sub Registrar Office for MF Mithila?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more details through the provided link.