Guideline Value for BINNY COLONY AND PARK STREET

Binny Colony And Park Street guideline value

The current guideline value of Binny Colony And Park Street is Rs 3,920 per sq.ft, effective from 1 July 2024. This property is located in Ward - K village, under the Tiruppur Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Binny Colony And Park Street has changed

The guideline value for Binny Colony And Park Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,190 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. Following that, the value saw a significant increase to Rs 3,500 per sq.ft in 2023, and it has now risen to Rs 3,920 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

When examining the changes, the guideline value increased by 60% from 2007 to 2012, then decreased by 33% from 2012 to 2017. After that, there was a notable increase of 49% from 2017 to 2023, and the value rose by 12% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 79%.

Guideline values in Ward - K

In Ward - K, there are 175 streets under the Tiruppur Joint I SRO that carry a 2024 guideline value ranging from Rs 780 to Rs 4,480 per sq.ft, with a median value of Rs 1,120 per sq.ft. Binny Colony And Park Street's 2024 figure of Rs 3,920 per sq.ft is above this median.

• Bharathipuram: Rs 2,800 per sq.ft (2024)
• Bharathiar Street: Rs 1,120 per sq.ft (2024)
• Benny Street: Rs 3,920 per sq.ft (2024)
• Benny Main Road: Rs 3,920 per sq.ft (2024)
• Avinashi Road (Bazaar Street): Rs 4,480 per sq.ft (2024)
• Avinashi Road 60 Feet (North Side): Rs 4,480 per sq.ft (2024)

Stamp duty and registration fee for property in Binny Colony And Park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,920 per sq.ft, the total guideline value would be Rs 39,20,000. The stamp duty at 7% would amount to Rs 2,74,400, and the registration fee at 2% would be Rs 78,400, bringing the total cost for these fees to Rs 3,52,800. It is important to note that 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 details.

Which Sub Registrar Office covers Binny Colony And Park Street?

The Sub Registrar Office that covers Binny Colony And Park Street is the Tiruppur Joint I Sub Registrar Office, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602, in the Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward - K

The guideline value plays a crucial role in the registration process when buying or selling property in Ward - K. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the land records.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Binny Colony And Park Street?

The current guideline value of Binny Colony And Park Street is Rs 3,920 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,190 per sq.ft in 2007 to Rs 3,920 per sq.ft in 2024, showing an overall increase of 79% over the years.

What is the land classification for Binny Colony And Park Street?

Binny Colony And Park Street is classified as Commercial Class I Type - I.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,52,800.

Which office handles registrations for Binny Colony And Park Street?

The Tiruppur Joint I Sub Registrar Office handles registrations for Binny Colony And Park Street, located at 1/529, Nerupperichchal Village, Pooluvapatti Postal, Tirupur - 641 602.