Guideline Value for Balaji Nagar (Goyathoppu)

Balaji Nagar (Goyathoppu) guideline value

The current guideline value of Balaji Nagar (Goyathoppu) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar (Goyathoppu) has changed

The guideline value of Balaji Nagar (Goyathoppu) has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the village is Rs 2,700 per sq.ft, which is also the current guideline value for Balaji Nagar (Goyathoppu).

• Balaji Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extension (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Balakrishnan Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Balakrishna Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Goyathoppu)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar (Goyathoppu)?

The Sub Registrar Office that covers Balaji Nagar (Goyathoppu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the registration department. This process aids in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Goyathoppu)?

The current guideline value of Balaji Nagar (Goyathoppu) 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 61% during this period.

What are the stamp duty and registration fees for property in Balaji Nagar (Goyathoppu)?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Balaji Nagar (Goyathoppu)?

The Sub Registrar Office for Balaji Nagar (Goyathoppu) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone.

What is the land classification of Balaji Nagar (Goyathoppu)?

Balaji Nagar (Goyathoppu) is classified as Residential Class I Type - I, indicating its suitability for residential development.