Guideline Value for Binny Nagar 1st Street

Binny Nagar 1st Street guideline value

The current guideline value of Binny Nagar 1st Street 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 Binny Nagar 1st Street has changed

The guideline value for Binny Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 2,700 per sq.ft, reflecting an 8% rise from the previous year.

There are no recorded figures for Binny Nagar 1st Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%.

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 guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Binny Nagar 1st Street.

• Binni Main Road: 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 Binny Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Binny Nagar 1st Street?

The Sub Registrar Office that covers Binny Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

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

Frequently asked questions

What is the current guideline value of Binny Nagar 1st Street?

The current guideline value of Binny Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 61% over this period.

What are the other streets in Kodungaiyur with similar guideline values?

Other streets in Kodungaiyur with a guideline value of Rs 2,700 per sq.ft include Binni Main Road, Binny Nagar Main Road, Bhavaniamman Street (Krishnamoorthy Nagar), and Bose Cross Street.

What fees are associated with buying property in Binny Nagar 1st Street?

When buying property, you will need to pay stamp duty at 7% of the guideline value and a registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, these fees would total Rs 2,43,000.

Where is the Sub Registrar Office for Binny Nagar 1st Street located?

The Sub Registrar Office covering Binny Nagar 1st Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.