Guideline Value for Block 1 S.K. Chenniappa Gounder Road

Block 1 S.K. Chenniappa Gounder Road guideline value

The current guideline value for Block 1 S.K. Chenniappa Gounder Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Block 1 S.K. Chenniappa Gounder Road has changed

The guideline value for Block 1 S.K. Chenniappa Gounder Road has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 556 per sq.ft. This increased to Rs 629 per sq.ft in 2003, representing a 13% rise. The value then rose to Rs 750 per sq.ft in 2007, marking a 19% increase from the previous revision. In 2012, the value was Rs 1,500 per sq.ft, which was a significant 100% increase from the 2007 figure. However, in 2017, it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%.

From 2017, the value increased to Rs 1,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in years not listed for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Block 1 S.K. Chenniappa Gounder Road above this median.

• Block 1 Perumal Naidu Street: Rs 825 per sq.ft (2024)
• Block 20 Jeevanandham Road: Rs 1,100 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Street: Rs 1,925 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Muthusamy Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 20 Nethaji Road Part-1: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 S.K. Chenniappa Gounder Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total cost of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 1 S.K. Chenniappa Gounder Road?

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

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

The guideline value is an essential factor when registering property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 1 S.K. Chenniappa Gounder Road?

The current guideline value for Block 1 S.K. Chenniappa Gounder Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 556 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 197% over the years.

What is the land classification for this area?

Block 1 S.K. Chenniappa Gounder Road is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 1 S.K. Chenniappa Gounder Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.