Guideline Value for MITHILA II

Mithila II guideline value

The current guideline value of Mithila II in Paruthipattu village, under the Avadi SRO, is Rs 1,375 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Type - III.

How the guideline value of Mithila II has changed

In the 2017 revision, the guideline value for Mithila II was Rs 1,250 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,250 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,375 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a 10% increase in the guideline value.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Therefore, the only revisions that reflect a guideline value for Mithila II are from 2017, 2023, and 2024.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO, with guideline values for 2024 ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value in this area is Rs 1,625 per sq.ft, placing Mithila II's 2024 figure below that median.

• Mithila-I: Rs 1,375 per sq.ft (2024)
• M.K.Garden: Rs 950 per sq.ft (2024)
• M.G.R.Road: Rs 801 per sq.ft (2024)
• M.G.R.Nagar Koladi St: Rs 950 per sq.ft (2024)
• M.G.R.Nagar Kalathumedu: Rs 801 per sq.ft (2024)
• Mettu St Kannigapuram: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Mithila II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, while the registration fee at 2% would be Rs 27,500, bringing the total to Rs 1,23,750. 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 precise calculations.

Which Sub Registrar Office covers Mithila II?

The Sub Registrar Office that covers Mithila II is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Paruthipattu. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and complies with local regulations.

When selling property, the guideline value can also influence the sale price, as it provides a standard reference for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Mithila II?

The current guideline value of Mithila II is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mithila II has increased from Rs 1,250 per sq.ft in 2017 to Rs 1,375 per sq.ft in 2024, marking a 10% increase overall.

What are the registration fees for property in Mithila II?

The registration fees for property in Mithila II include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations in Mithila II?

The Avadi Sub Registrar Office is responsible for handling property registrations in Mithila II, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

Where can I find more information about guideline values?

More information about guideline values can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets in the region.