Guideline Value for Balaji Nagar Extension (Koyyathoppu)

Balaji Nagar Extension (Koyyathoppu) guideline value

The current guideline value of Balaji Nagar Extension (Koyyathoppu) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this property is Residential Class II Type - I.

How the guideline value of Balaji Nagar Extension (Koyyathoppu) has changed

The guideline value for Balaji Nagar Extension (Koyyathoppu) has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This figure remained until the 2017 revision, which decreased to Rs 1,340 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased significantly by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, placing Balaji Nagar Extension (Koyyathoppu) below this median value.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extension (Koyyathoppu)?

The Sub Registrar Office that covers Balaji Nagar Extension (Koyyathoppu) 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 is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

Frequently asked questions

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

The current guideline value of Balaji Nagar Extension (Koyyathoppu) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Balaji Nagar Extension (Koyyathoppu)?

The land classification for Balaji Nagar Extension (Koyyathoppu) is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Balaji Nagar Extension (Koyyathoppu)?

The Madhavaram Sub Registrar Office handles property registrations for Balaji Nagar Extension (Koyyathoppu), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.