Guideline Value for Block 12 Veerapathira Road

Block 12 Veerapathira Road guideline value

The current guideline value of Block 12 Veerapathira Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward C village and falls under the Erode Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Block 12 Veerapathira Road has changed

The guideline value for Block 12 Veerapathira Road has seen several revisions over the years. In 2002, the guideline value was Rs 1,088 per sq.ft, which increased to Rs 1,219 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 1,500 per sq.ft in 2007, representing a +23% increase. Following that, the value jumped to Rs 2,500 per sq.ft in 2012, a significant increase of +67%. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The value then increased sharply to Rs 2,500 per sq.ft in 2023, which was a +49% rise. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year.

It is important to note that the register has no figure for this street for the years other than those mentioned. The overall change from 2002 to 2024 is +153%.

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 of Block 12 Veerapathira Road is above this median.

• Block 13 E.V.R. Huts: Rs 770 per sq.ft (2024)
• Block 13 Gandhipuram Road: Rs 771 per sq.ft (2024)
• Block 12 Krishna Chetti Street: Rs 1,100 per sq.ft (2024)
• Block 13 Mill Huts: Rs 770 per sq.ft (2024)
• Block 13 Mill Road: Rs 770 per sq.ft (2024)
• Block 12 Bhavani Road: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 12 Veerapathira Road?

The Sub Registrar Office that covers Block 12 Veerapathira Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property transaction occurs, the guideline value helps determine the official value of the property for legal and taxation purposes. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 12 Veerapathira Road?

The current guideline value of Block 12 Veerapathira 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 1,088 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of +153% over the years.

What is the land classification for Block 12 Veerapathira Road?

Block 12 Veerapathira Road is classified as Commercial Class I Type - III, indicating its use for commercial purposes.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office located for this area?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.