Guideline Value for Block 12 Varatharajan Street

Block 12 Varatharajan Street guideline value

The current guideline value of Block 12 Varatharajan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 12 Varatharajan Street has changed

The guideline value for Block 12 Varatharajan Street has experienced several revisions over the years. The earliest recorded value was Rs 241 per sq.ft in 2002, which increased to Rs 270 per sq.ft in 2003, marking a 12% rise. By 2007, the value had significantly increased to Rs 400 per sq.ft, reflecting a 48% change. In 2012, the value further rose to Rs 1,000 per sq.ft, a substantial increase of 150% from the previous revision. However, in 2017, the value dropped to Rs 670 per sq.ft, indicating a decline of 33%.

From 2017 to 2023, the guideline value saw a notable increase to Rs 1,000 per sq.ft, which is a 49% rise. The latest revision in 2024 set the value at Rs 1,100 per sq.ft, representing a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 356%.

Guideline values in Ward B

Within Ward B, there are 170 streets that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with the median value being Rs 1,100 per sq.ft. Block 12 Varatharajan Street's current guideline value aligns with this median.

• Block 12 Poosari Chennimalai Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 12 N.G.G.O.Colony Road: Rs 1,100 per sq.ft (2024)
• Block 12 Muthukaruppan St: Rs 1,650 per sq.ft (2024)
• Block 13 E.V.Nanjappa Road: Rs 3,300 per sq.ft (2024)
• Block 12 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 13 Marappa Street 1,2,3: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Varatharajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost together to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 12 Varatharajan Street?

The Sub Registrar Office that covers Block 12 Varatharajan Street 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 details.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 12 Varatharajan Street?

The current guideline value for Block 12 Varatharajan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 241 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 356% over the years.

What is the registration office for Block 12 Varatharajan Street?

The registration office for Block 12 Varatharajan Street 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 based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.

What are the other streets in Ward B with similar guideline values?

Other streets in Ward B, such as Block 12 Poosari Chennimalai Gounder Street and Block 12 N.G.G.O.Colony Road, also have a guideline value of Rs 1,100 per sq.ft in 2024.