Guideline Value for OLYMPIA MITHILA

Olympia Mithila guideline value

The current guideline value of Olympia Mithila is Rs 2,800 per sq.ft, effective from 1 July 2024. This property is located in Chembarambakkam village, under the Poonamallee SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Olympia Mithila has changed

The guideline value for Olympia Mithila has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, an increase of 10% from the previous year's figure of Rs 2,550 per sq.ft established in 2023. Prior to these revisions, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2023 revision was Rs 2,550 per sq.ft, while the 2024 revision is Rs 2,800 per sq.ft. This reflects a significant increase in the guideline value over the past year.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry 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 the guideline value of Olympia Mithila above this median.

• Om Paragadeeswarar Nagar: Rs 1,100 per sq.ft (2024)
• Padavetamman Nagar: Rs 1,100 per sq.ft (2024)
• N.E.S.Avenue: Rs 770 per sq.ft (2024)
• Patel Street: Rs 878 per sq.ft (2024)
• Patel Street 97/4c,4i,4j,5,6,7,8,9,10: Rs 878 per sq.ft (2024)
• Pattammal Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Olympia Mithila

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 more details.

Which Sub Registrar Office covers Olympia Mithila?

The Olympia Mithila property is covered by 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 plays a crucial role in the registration process when buying or selling property in Chembarambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. This ensures that the transaction is conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Olympia Mithila?

The current guideline value of Olympia Mithila is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,550 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Olympia Mithila?

The land classification for Olympia Mithila is Residential Special Type - IV, indicating its designated use within the area.

What are the stamp duty and registration fees for a property in Olympia Mithila?

For a 1,000 sq.ft property, the total guideline value is Rs 28,00,000, with stamp duty at Rs 1,96,000 and registration fees at Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Olympia Mithila?

The Poonamallee Sub Registrar Office handles registrations for Olympia Mithila, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.