Guideline Value for Block 14 E.V.Nanajappa Road

Block 14 E.V.Nanajappa Road guideline value

The current guideline value for Block 14 E.V.Nanajappa Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Ward B village, under the Erode Joint I SRO, classified as Commercial Class I Type - II.

How the guideline value of Block 14 E.V.Nanajappa Road has changed

The guideline value for Block 14 E.V.Nanajappa Road has seen several revisions over the years. In 2002, the guideline value was Rs 532 per sq.ft. This figure increased to Rs 596 per sq.ft in 2003, marking a growth of 12%. The value then rose to Rs 750 per sq.ft in 2007, which was a significant increase of 26%. Following this, the 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a substantial increase of 300% from the previous revision. In 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, which is an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 520%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 14 E.V.Nanajappa Road is above this median.

• Block 14 Kalaimagal School Road: Rs 1,375 per sq.ft (2024)
• Block 14 Kanthappa Lane: Rs 771 per sq.ft (2024)
• Block 14 Kanthappa Street: Rs 825 per sq.ft (2024)
• Block 13 Varatharajan St: Rs 1,100 per sq.ft (2024)
• Block 14 Kumarasamy Layout: Rs 825 per sq.ft (2024)
• Block 13 S.K.Chennimalai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 E.V.Nanajappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Block 14 E.V.Nanajappa Road?

The Sub Registrar Office that covers Block 14 E.V.Nanajappa 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 B

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is sold, the buyer is required to pay 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 area.

Frequently asked questions

What is the current guideline value for Block 14 E.V.Nanajappa Road?

The current guideline value for Block 14 E.V.Nanajappa Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 520% over the years.

What is the land classification for Block 14 E.V.Nanajappa Road?

Block 14 E.V.Nanajappa Road is classified as Commercial Class I Type - II.

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

The Sub Registrar Office for Block 14 E.V.Nanajappa Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.