Guideline Value for Block 14 S.K.Chenniappa Street

Block 14 S.K.Chenniappa Street guideline value

The current guideline value of Block 14 S.K.Chenniappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 14 S.K.Chenniappa Street has changed

The guideline value for Block 14 S.K.Chenniappa Street has undergone several revisions over the years. In 2002, the guideline value was Rs 361 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 750 per sq.ft in 2007, representing an increase of +85%. This was followed by a jump to Rs 1,250 per sq.ft in 2012, a change of +67%. However, in 2017, the value decreased to Rs 837 per sq.ft, reflecting a decline of -33%. The value then rose again to Rs 1,250 per sq.ft in 2023, before reaching the current rate of Rs 1,375 per sq.ft in 2024, which is an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +281%. The register does not contain figures for revisions in years other than those listed above.

Guideline values in Ward B

In Ward B, there are 170 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 guideline value in this area is Rs 1,100 per sq.ft, placing Block 14 S.K.Chenniappa Street above this median.

• Block 14 Patel Road: Rs 1,375 per sq.ft (2024)
• Block 14 Kumarasamy Street: Rs 825 per sq.ft (2024)
• Block 14 Kumarasamy Layout: Rs 825 per sq.ft (2024)
• Block 14 Kanthappa Street: Rs 825 per sq.ft (2024)
• Block 14 Kanthappa Lane: Rs 771 per sq.ft (2024)
• Block 15 E.V.Nanjappa Street(or)Mettur Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 S.K.Chenniappa Street

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the guideline value would be 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, totaling Rs 1,23,750. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Block 14 S.K.Chenniappa Street?

The Sub Registrar Office that covers Block 14 S.K.Chenniappa Street 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 is a crucial factor during property registration in Ward B. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is bought or sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value and the sale price. This ensures that the transaction is recorded accurately and fairly in the official registers.

Frequently asked questions

What is the current guideline value of Block 14 S.K.Chenniappa Street?

The current guideline value of Block 14 S.K.Chenniappa Street 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 from Rs 361 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of +281% over the years.

What is the stamp duty for a property in Block 14 S.K.Chenniappa Street?

The stamp duty for a property in Block 14 S.K.Chenniappa Street is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for property transactions in this area?

The registration fee for property transactions in Block 14 S.K.Chenniappa Street is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 14 S.K.Chenniappa Street located?

The Sub Registrar Office for Block 14 S.K.Chenniappa Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, under the Coimbatore registration zone.