Guideline Value for Block 12 Bhavani Road

Block 12 Bhavani Road guideline value

The current guideline value for Block 12 Bhavani Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Block 12 Bhavani Road has changed

Since its first recorded revision, the guideline value for Block 12 Bhavani Road has seen several changes. The 2002 revision recorded a guideline value of Rs 719 per sq.ft, which increased to Rs 806 per sq.ft in 2003, marking a 12% rise. The subsequent revisions showed further increases, with the 2007 revision at Rs 1,000 per sq.ft (24% increase), followed by Rs 1,500 per sq.ft in 2012 (50% increase). However, the value decreased by 33% to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a significant rise to Rs 1,500 per sq.ft, which then increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 129%. The register has no figures for the years not mentioned above.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, and Block 12 Bhavani Road's 2024 figure is above this median.

• Block 12 A P T Road: Rs 2,750 per sq.ft (2024)
• Block 11 Veerapathira Road: Rs 4,400 per sq.ft (2024)
• Block 12 Krishna Chetti Street: Rs 1,100 per sq.ft (2024)
• Block 11 Thangavelu Road: Rs 2,750 per sq.ft (2024)
• Block 11 New Market Road: Rs 2,750 per sq.ft (2024)
• Block 12 Veerapathira Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Bhavani Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 12 Bhavani Road?

The Sub Registrar Office that covers Block 12 Bhavani 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 a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for Block 12 Bhavani Road?

The current guideline value for Block 12 Bhavani 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 from Rs 719 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What is the stamp duty rate for property in Block 12 Bhavani Road?

The stamp duty rate for property in Block 12 Bhavani Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 12 Bhavani Road located?

The Sub Registrar Office for Block 12 Bhavani Road is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, under the Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers must pay these fees based on the higher of the guideline value or the sale price.