Guideline Value for Binny Salai

Binny Salai guideline value

The current guideline value of Binny Salai is Rs 17,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Special Type - III.

How the guideline value of Binny Salai has changed

The guideline value for Binny Salai has undergone several revisions. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 16,000 per sq.ft, which increased to Rs 17,500 per sq.ft in 2024, marking a change of +9%.

Prior to 2023, there were no recorded figures for this street in the revisions from 2002 to 2017. The 2024 figure of Rs 17,500 per sq.ft is notably above the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

The guideline values for the streets in Mylapore Part 1 range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Binny Salai's 2024 figure of Rs 17,500 per sq.ft is above this median.

• Boat Club Road: Rs 25,300 per sq.ft (2024)
• Boat Club Road 1st Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 2nd Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 3rd Avenue: Rs 25,300 per sq.ft (2024)
• Cathedral Garden Lane: Rs 8,700 per sq.ft (2024)
• Cathedral Garden Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Binny Salai

For a 1,000 sq.ft plot at the current rate of Rs 17,500 per sq.ft, the guideline value amounts to Rs 1,75,00,000. The stamp duty at 7% would be Rs 12,25,000, and the registration fee at 2% would be Rs 3,50,000, totaling Rs 15,75,000. 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 Binny Salai?

The Sub Registrar Office that covers Binny Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are compliant with the local regulations.

When buying or selling property, the guideline value is considered to ensure that the transaction reflects the prevailing market conditions. This value helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Binny Salai?

The current guideline value of Binny Salai is Rs 17,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Binny Salai has changed from Rs 16,000 per sq.ft in 2023 to Rs 17,500 per sq.ft in 2024, reflecting a change of +9%. There are no figures recorded for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Binny Salai's 2024 figure of Rs 17,500 per sq.ft is above this median.

What are the stamp duty rates applicable in Binny Salai?

The stamp duty rate applicable in Binny Salai is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Binny Salai?

The Sub Registrar Office for Binny Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.