Guideline Value for Block 1 Chokkai Thottam

Block 1 Chokkai Thottam guideline value

The current guideline value for Block 1 Chokkai Thottam is Rs 771 per sq.ft, effective from 1 July 2024. This area is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 1 Chokkai Thottam has changed

The guideline value for Block 1 Chokkai Thottam has seen several revisions over the years. In the 2002 revision, the value was Rs 185 per sq.ft, which increased to Rs 208 per sq.ft in 2003. Following this, the value rose to Rs 300 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The value then increased significantly to Rs 700 per sq.ft in 2023, and is currently set at Rs 771 per sq.ft in the 2024 revision.

From 2017 to 2023, the value increased by 109%. The value saw a decrease of 33% from 2012 to 2017. There was a notable increase of 67% from 2007 to 2012, and a 44% increase from 2003 to 2007. The value rose by 12% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 317%. There are no figures available for revisions in years other than those listed.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 1 Chokkai Thottam is below this median.

• Block 1 Cavuery Road Main Road: Rs 825 per sq.ft (2024)
• Block 1 Krishnan Street: Rs 772 per sq.ft (2024)
• Block 1 Maniyar Thottam: Rs 771 per sq.ft (2024)
• Block 19 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 1 Pachiamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 19 R.K.Venkatasamy Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Chokkai Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 Block 1 Chokkai Thottam?

The Sub Registrar Office that covers Block 1 Chokkai Thottam is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ward C. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is assessed to calculate the applicable fees. It is important to note that the duty is charged on the higher of the guideline value and the sale price, ensuring that the registration process adheres to the established regulations.

Frequently asked questions

What is the current guideline value for Block 1 Chokkai Thottam?

The current guideline value for Block 1 Chokkai Thottam is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 185 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 317% over this period.

What is the stamp duty rate for property in Block 1 Chokkai Thottam?

The stamp duty rate for property in Block 1 Chokkai Thottam is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 1 Chokkai Thottam located?

The Sub Registrar Office for Block 1 Chokkai Thottam is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

What are the registration fees for property transactions in Block 1 Chokkai Thottam?

The registration fee for property transactions in Block 1 Chokkai Thottam is 2% of the guideline value or the sale price, whichever is higher.