Guideline Value for Block 11 New Market Road

Block 11 New Market Road guideline value

The current guideline value of Block 11 New Market Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 11 New Market Road has changed

The guideline value for Block 11 New Market Road has seen several revisions over the years. In 2002, the guideline value was Rs 480 per sq.ft. This increased to Rs 538 per sq.ft in 2003, marking a 12% rise. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, which was a 39% increase from the previous revision. By 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial 233% increase from 2007. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017.

In the following years, the value increased again, reaching Rs 2,500 per sq.ft in 2023, a 49% rise from 2017. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. There are no figures available for other revisions for this street in the register.

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 11 New Market Road is above this median.

• Block 11 Krishnan St: Rs 1,375 per sq.ft (2024)
• Block 11 EVK Sampath Salai: Rs 2,750 per sq.ft (2024)
• Block 11 Thangavelu Road: Rs 2,750 per sq.ft (2024)
• Block 11 Veerapathira Road: Rs 4,400 per sq.ft (2024)
• Block 12 A P T Road: Rs 2,750 per sq.ft (2024)
• Block 12 Bhavani Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 New Market Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 11 New Market Road?

The Sub Registrar Office covering Block 11 New Market Road 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 an essential factor when registering property transactions in Ward C. It determines the amount of stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Block 11 New Market Road?

The current guideline value of Block 11 New Market Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 480 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 473% over the years.

What is the land classification for Block 11 New Market Road?

Block 11 New Market Road is classified as Commercial Class I Type - III.

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

The Sub Registrar Office for Block 11 New Market Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

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. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.