Guideline Value for Block 14 Nethaji Road Part-2

Block 14 Nethaji Road Part-2 guideline value

The current guideline value for Block 14 Nethaji Road Part-2 is Rs 1,375 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 14 Nethaji Road Part-2 has changed

The guideline value for Block 14 Nethaji Road Part-2 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 321 per sq.ft. This increased to Rs 363 per sq.ft in 2003, marking a 13% rise. The value then saw a 10% increase to Rs 400 per sq.ft in 2007. Following this, there was a significant jump of 213%, bringing the value to Rs 1,250 per sq.ft in 2012. However, the 2017 revision saw a decrease of 33%, resulting in a value of Rs 837 per sq.ft. The value then rose by 49% to Rs 1,250 per sq.ft in 2023, before reaching the current value of Rs 1,375 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figures for this street in revisions other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 328%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 14 Nethaji Road Part-2 is above this median.

• Block 14 Karur Road: Rs 771 per sq.ft (2024)
• Block 15 Alamarathu Huts (Anthoniyar Street): Rs 771 per sq.ft (2024)
• Block 15 Annamalai Pillai Street: Rs 772 per sq.ft (2024)
• Block 14 Chatram Street: Rs 772 per sq.ft (2024)
• Block 15 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)
• Block 15 Kalyanasundaram Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Nethaji Road Part-2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total fees together to Rs 1,23,750. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Block 14 Nethaji Road Part-2?

The Sub Registrar Office that covers Block 14 Nethaji Road Part-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 E

The guideline value plays a crucial role during the registration process when buying or selling property in Ward E. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are documented accurately and fairly.

When buyers and sellers engage in a property transaction, the guideline value is considered to establish a baseline for the transaction. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Block 14 Nethaji Road Part-2?

The current guideline value for Block 14 Nethaji Road Part-2 is Rs 1,375 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 321 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 328% over this period.

What is the classification of the land on Block 14 Nethaji Road Part-2?

The land classification for Block 14 Nethaji Road Part-2 is Residential Class I Type - III.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Block 14 Nethaji Road Part-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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 13,75,000, the stamp duty at 7% would amount to Rs 96,250.