Guideline Value for Block 11 Veerapathira Road

Block 11 Veerapathira Road guideline value

The current guideline value for Block 11 Veerapathira Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Block 11 Veerapathira Road has changed

The guideline value for Block 11 Veerapathira Road has undergone several revisions over the years. In the 2002 revision, the guideline value was Rs 1,087 per sq.ft. This increased to Rs 1,218 per sq.ft in 2003, marking a rise of 12%. The value saw a modest increase to Rs 1,250 per sq.ft in 2007, which was a 3% change. A significant jump occurred in the 2012 revision, where the value surged to Rs 4,000 per sq.ft, reflecting a 220% increase from the previous figure. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, a decline of 33%.

In the following revisions, the guideline value rose again, reaching Rs 4,000 per sq.ft in 2023, which was a 49% increase from the 2017 value. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Ward C

In Ward C, the guideline values range 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 Veerapathira Road is significantly above this median, indicating its higher valuation among the streets in the area.

• Block 11 Thangavelu Road: Rs 2,750 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)
• Block 11 New Market Road: Rs 2,750 per sq.ft (2024)
• Block 12 Krishna Chetti Street: Rs 1,100 per sq.ft (2024)
• Block 11 Krishnan St: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Veerapathira Road

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. Please 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 Veerapathira Road?

The Sub Registrar Office that covers Block 11 Veerapathira 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When you proceed with a property transaction, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that the fees are aligned with the official valuation of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value for Block 11 Veerapathira Road?

The current guideline value for Block 11 Veerapathira Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,087 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What is the land classification for Block 11 Veerapathira Road?

Block 11 Veerapathira Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

How is the stamp duty calculated for properties in Block 11 Veerapathira Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.

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

The Sub Registrar Office for Block 11 Veerapathira Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009. You can find more information about it through the provided link.