Guideline Value for MITHILA

Mithila guideline value

The current guideline value of Mithila, located in Chembarambakkam village under the Poonamallee SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Mithila has changed

The guideline value for Mithila has undergone several revisions. However, the register does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for this street. The latest revision in 2024 set the guideline value at Rs 3,960 per sq.ft.

Prior to the 2024 revision, there were no recorded figures for Mithila in the guideline value register. Thus, the only current figure available is from the 2024 revision.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Mithila's 2024 figure above this median.

• Mgr Nagar 100/1: Rs 878 per sq.ft (2024)
• M.G.R Nagar: Rs 1,100 per sq.ft (2024)
• Manikandan Nagar: Rs 1,100 per sq.ft (2024)
• Nedunchalai: Rs 878 per sq.ft (2024)
• Lime Light: Rs 2,300 per sq.ft (2024)
• N.E.S.Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Mithila

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees to Rs 3,56,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mithila?

The Mithila area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

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

When registering a property, the guideline value ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers must consider this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mithila?

The current guideline value of Mithila is Rs 3,960 per sq.ft, effective from 1 July 2024.

What is the land classification of Mithila?

The land classification for Mithila is Residential Special Type - III.

How many streets are there in Chembarambakkam under the Poonamallee SRO?

There are 64 streets in Chembarambakkam under the Poonamallee SRO that carry a 2024 guideline value.

What are the stamp duty rates for property in Mithila?

The stamp duty for property in Mithila is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.