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Guideline Value

Corporate

Guideline Value for Binny Nagar / Binni Employees Colony

₹1900/sq.ft.

The guideline value for Binny Nagar / Binni Employees Colony in Selavoyal village (Madhavaram SRO, Chennai zone) is Rs 1900 per sq.ft, effective 1 July 2024. It was Rs 1800 per sq.ft from 1 April 2023, a 6% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Selavoyal

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1900 /sq.ft.
From 1-4-2023 ₹1800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1206 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Binny Nagar / Binni Employees Colony

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Binny Nagar / Binni Employees Colony guideline value

The current guideline value for Binny Nagar / Binni Employees Colony is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village and falls under the Madhavaram SRO. The land classification is Residential Class III Type - I.

How the guideline value of Binny Nagar / Binni Employees Colony has changed

The guideline value for Binny Nagar / Binni Employees Colony has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,800 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Binny Nagar / Binni Employees Colony is below this median.

Stamp duty and registration fee for property in Binny Nagar / Binni Employees Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. Please 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 details.

Which Sub Registrar Office covers Binny Nagar / Binni Employees Colony?

The Sub Registrar Office that covers Binny Nagar / Binni Employees Colony 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 Selavoyal

The guideline value is a crucial factor in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Binny Nagar / Binni Employees Colony?

The current guideline value of Binny Nagar / Binni Employees Colony is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal with a guideline value of Rs 1,900 per sq.ft in 2024 include Boopathy Salai, Bhatri Nagar 1st, 2nd, and 3rd Streets, Burma Nagar, and Chokkammal Thottam.

What are the stamp duty and registration fees for property in Binny Nagar / Binni Employees Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,71,000.

Which office handles property registrations in Binny Nagar / Binni Employees Colony?

The Madhavaram Sub Registrar Office handles property registrations in Binny Nagar / Binni Employees Colony. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.