Guideline Value for Block 14 Nachiappa Street 1 & 2

Block 14 Nachiappa Street 1 & 2 guideline value

The current guideline value for Block 14 Nachiappa Street 1 & 2 is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 14 Nachiappa Street 1 & 2 has changed

The guideline value for Block 14 Nachiappa Street 1 & 2 has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased significantly to Rs 969 per sq.ft in 2003, marking an increase of 823%. The value then rose to Rs 1,750 per sq.ft in 2007, which was an increase of 81%. Following that, in 2012, the value changed to Rs 2,500 per sq.ft, reflecting a decrease of 33%. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a 49% increase from the previous figure. In 2023, the value was Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, showing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,519%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Ward A

Ward A contains 111 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 14 Nachiappa Street 1 & 2 above that median.

• Block 14 New Market (or) New Busstand Road: Rs 2,750 per sq.ft (2024)
• Block 14 Veerapathra Road (OR) Sakthi Road 1.2.3 Main Road: Rs 3,300 per sq.ft (2024)
• Block 14 Veerapathra Road (or) Sathy Road: Rs 3,300 per sq.ft (2024)
• Block 15 Agil Medu Street: Rs 2,750 per sq.ft (2024)
• Block 14 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)
• Block 15 A.Veerapathra Road 1.2.3 (or) Sakthi Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Nachiappa Street 1 & 2

For a 1,000 sq.ft plot at the current rate, the guideline value would be 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, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 14 Nachiappa Street 1 & 2?

The Sub Registrar Office covering Block 14 Nachiappa Street 1 & 2 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 information.

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

The guideline value plays a crucial role during property registration in Ward A. It serves as a benchmark to determine the minimum value for transactions, ensuring that properties are registered at an appropriate value based on their location and classification.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value for Block 14 Nachiappa Street 1 & 2?

The current guideline value for Block 14 Nachiappa Street 1 & 2 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 significantly from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2,519% over the years.

What is the land classification for Block 14 Nachiappa Street 1 & 2?

Block 14 Nachiappa Street 1 & 2 is classified as Commercial Class I Type - III.

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

The Sub Registrar Office for Block 14 Nachiappa Street 1 & 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,47,500.