Guideline Value for Block 11 Senniappa Lay-out

Block 11 Senniappa Lay-out guideline value

The current guideline value for Block 11 Senniappa Lay-out is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward D village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 11 Senniappa Lay-out has changed

The guideline value for Block 11 Senniappa Lay-out has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 346 per sq.ft. This value increased to Rs 389 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 600 per sq.ft in 2007, which is an increase of +54%. In 2012, the value was recorded at Rs 750 per sq.ft, reflecting a +25% change from the previous revision. However, there was a notable decrease of -33% to Rs 502 per sq.ft in 2017. The guideline value then increased significantly to Rs 750 per sq.ft in 2023, a change of +49%, and finally reached Rs 825 per sq.ft in 2024, which is a +10% increase.

The overall change from the 2002 figure to the 2024 figure is +138%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ward D

In Ward D, the 2024 guideline values for various streets range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 11 Senniappa Lay-out is above this median.

• Block 11 Ranganathan Street: Rs 771 per sq.ft (2024)
• Block 11 Periya Mariamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 11 OmKaliamman Kovil Theru: Rs 771 per sq.ft (2024)
• Block 12 Cauvery Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 11 Krishnamoorthy Thottam Street 1 2 3: Rs 771 per sq.ft (2024)
• Block 12 Chenniappa Lay-out: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Senniappa Lay-out

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Block 11 Senniappa Lay-out?

The Sub Registrar Office that covers Block 11 Senniappa Lay-out 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 D

The guideline value plays a crucial role during property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations. It also helps in estimating the costs involved in property transactions, including taxes and fees that need to be settled during registration.

Frequently asked questions

What is the current guideline value for Block 11 Senniappa Lay-out?

The current guideline value for Block 11 Senniappa Lay-out is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 346 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, showing an overall increase of +138% across the revisions.

What is the registration office for Block 11 Senniappa Lay-out?

The registration office for Block 11 Senniappa Lay-out is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.

What are the guideline values for other streets in Ward D?

Other streets in Ward D have varying guideline values, with rates such as Rs 771 per sq.ft for several streets and Rs 2,750 per sq.ft for Block 12 Cauvery Road Main Road. The values range from Rs 770 to Rs 7,700 per sq.ft in this area.