Guideline Value for Block 13 Lakshmi Narayanan Nagar

Block 13 Lakshmi Narayanan Nagar guideline value

The current guideline value for Block 13 Lakshmi Narayanan Nagar is Rs 771 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 - III.

How the guideline value of Block 13 Lakshmi Narayanan Nagar has changed

The guideline value for Block 13 Lakshmi Narayanan Nagar has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 241 per sq.ft. It increased to Rs 270 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 350 per sq.ft in 2007, a 30% increase from the previous figure. By 2012, the value had increased to Rs 600 per sq.ft, reflecting a 71% rise. However, in 2017, the value saw a significant drop to Rs 402 per sq.ft, a decrease of 33%. The value rebounded to Rs 700 per sq.ft in 2023, showing a 74% increase. The latest revision in 2024 has set the guideline value at Rs 771 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 220%. There are no years in the register that have no figure for this street.

Guideline values in Ward D

In Ward D, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as of 2024, with a median value of Rs 798 per sq.ft. The guideline value for Block 13 Lakshmi Narayanan Nagar is below this median.

• Block 13 Karpagam Lay-out: Rs 825 per sq.ft (2024)
• Block 13 Chella Batsha Street: Rs 825 per sq.ft (2024)
• Block 13 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 13 Arunthathiyar Vaikal Street Road 1,2,3 Mosikeeranar Street .12.3..: Rs 825 per sq.ft (2024)
• Block 12 Om Kaliamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 14 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 13 Lakshmi Narayanan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees to Rs 69,390. 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 more details.

Which Sub Registrar Office covers Block 13 Lakshmi Narayanan Nagar?

The Sub Registrar Office that covers Block 13 Lakshmi Narayanan Nagar 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 when buying or selling properties in Ward D. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, it is essential to reference the guideline value to ensure compliance with local regulations. This value is periodically revised to reflect changes in the property market and is an important factor in the registration process.

Frequently asked questions

What is the current guideline value of Block 13 Lakshmi Narayanan Nagar?

The current guideline value of Block 13 Lakshmi Narayanan Nagar is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 241 per sq.ft to Rs 771 per sq.ft in 2024, reflecting an overall increase of 220% over this period.

What is the classification of land in Block 13 Lakshmi Narayanan Nagar?

Block 13 Lakshmi Narayanan Nagar is classified as Residential Class II Type - III, which indicates its designated use for residential purposes.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office for Block 13 Lakshmi Narayanan Nagar is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 69,390.