Guideline Value for MITHILA-I

Mithila-I guideline value

The current guideline value of Mithila-I, located 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-I has changed

The guideline value for Mithila-I has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,375 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 1,250 per sq.ft. Prior to that, the 2017 revision also recorded the value at Rs 1,250 per sq.ft, indicating no change during that period.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. Overall, from 2017 to 2024, the guideline value has increased by 10%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. The guideline value of Mithila-I is below this median.

• Mithila II: 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-I

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, and 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mithila-I?

The Mithila-I area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Paruthipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mithila-I?

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

How has the guideline value changed over the years?

The guideline value has increased by 10% from Rs 1,250 per sq.ft in 2023 to Rs 1,375 per sq.ft in 2024. There was no change from 2017 to 2023, where the value remained at Rs 1,250 per sq.ft.

What are the guideline values of other streets in Paruthipattu?

Other streets in Paruthipattu have varying guideline values, with rates ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft.

What fees are associated with buying property in Mithila-I?

When buying property in Mithila-I, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,23,750 in fees.

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

The Sub Registrar Office covering Mithila-I is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.