Guideline Value for Block 11 Nethaji Street Part-2

Block 11 Nethaji Street Part-2 guideline value

The current guideline value of Block 11 Nethaji Street Part-2 is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 11 Nethaji Street Part-2 has changed

The guideline value for Block 11 Nethaji Street Part-2 has seen several revisions over the years. In 2002, the value was Rs 430 per sq.ft, which increased to Rs 486 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 600 per sq.ft in 2007, reflecting a +23% increase. Following this, the value surged to Rs 1,250 per sq.ft in 2012, showing a significant rise of +108%. However, in 2017, it decreased to Rs 837 per sq.ft, a drop of -33%. The value increased again to Rs 1,250 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,375 per sq.ft, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +220%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with guideline values 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 11 Nethaji Street Part-2's 2024 figure above this median.

• Block 11 Vaikkal Road: Rs 771 per sq.ft (2024)
• Block 10 Venkitasamy Ravuth Street: Rs 771 per sq.ft (2024)
• Block 11 Vaikkal Road (old): Rs 771 per sq.ft (2024)
• Block 10 Vaikkal Road: Rs 771 per sq.ft (2024)
• Block 10 South Okkiliyar Street: Rs 771 per sq.ft (2024)
• Block 10 North Okkiliyar Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Nethaji Street Part-2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, making the total fees together Rs 1,23,750. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 11 Nethaji Street Part-2?

The Sub Registrar Office that covers Block 11 Nethaji Street Part-2 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 additional details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or above the guideline value to avoid any discrepancies during registration. This ensures that the property is valued fairly according to the local standards set by the registration department.

Frequently asked questions

What is the current guideline value of Block 11 Nethaji Street Part-2?

The current guideline value of Block 11 Nethaji Street Part-2 is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 430 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, representing an overall increase of +220% over the years.

What is the land classification for Block 11 Nethaji Street Part-2?

Block 11 Nethaji Street Part-2 is classified as Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Block 11 Nethaji Street Part-2 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 properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,75,000 would incur a stamp duty of Rs 96,250 at 7%.