Guideline Value for Binni Main Road

Binni Main Road guideline value

The current guideline value of Binni Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Binni Main Road has changed

The guideline value for Binni Main Road has undergone several revisions over the years. The earliest recorded revision available is from 2017, where the guideline value was Rs 1,675 per sq.ft. The most recent revision in 2024 shows a significant increase to Rs 2,700 per sq.ft, marking a change of +61% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only changes noted are between the 2017 and 2024 revisions.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Binni Main Road.

• Binny Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Binny Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Bhavani Street: Rs 2,200 per sq.ft (2024)
• Bhavaniamman Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Boopathy Naicken Main Road: Rs 2,200 per sq.ft (2024)
• Bose Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Binni Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. 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 Binni Main Road?

The Sub Registrar Office that covers Binni Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When registering a property, buyers and sellers must ensure that the transaction value aligns with the guideline value to avoid discrepancies. This ensures that all parties are adhering to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Binni Main Road?

The current guideline value of Binni Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft, which is a change of +61%.

Are there any revisions without figures for Binni Main Road?

Yes, there are no recorded figures for Binni Main Road in the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is also the current value for Binni Main Road.

Where can I find the registration office for Binni Main Road?

The registration office for Binni Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.