Guideline Value for Block 15 E.V.Nanjappa Street(or)Mettur Road

Block 15 E.V.Nanjappa Street(or)Mettur Road guideline value

The current guideline value for Block 15 E.V.Nanjappa Street(or)Mettur Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward B village and falls under the Erode Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Block 15 E.V.Nanjappa Street(or)Mettur Road has changed

The guideline value for Block 15 E.V.Nanjappa Street(or)Mettur Road has seen several revisions over the years. In 2002, the guideline value was Rs 532 per sq.ft, which increased to Rs 596 per sq.ft in 2003. Following this, the value rose to Rs 750 per sq.ft in 2007, and then saw a significant jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value was revised again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 520%. The changes between the revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 300% increase from 2007 to 2012, a 26% increase from 2003 to 2007, and a 12% increase from 2002 to 2003. The register has no figures for revisions other than those mentioned.

Guideline values in Ward B

In Ward B, there are 170 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 1,100 per sq.ft. The guideline value for Block 15 E.V.Nanjappa Street(or)Mettur Road is above this median.

• Block 15 Kanthappa Street (or) Kandasamy Street: Rs 825 per sq.ft (2024)
• Block 15 Mosuvana Kadu: Rs 1,100 per sq.ft (2024)
• Block 15 Mosuvana Street: Rs 1,100 per sq.ft (2024)
• Block 14 S.K.Chenniappa Street: Rs 1,375 per sq.ft (2024)
• Block 14 Patel Road: Rs 1,375 per sq.ft (2024)
• Block 15 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 15 E.V.Nanjappa Street(or)Mettur 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, bringing the total to Rs 2,97,000. 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 15 E.V.Nanjappa Street(or)Mettur Road?

The Sub Registrar Office that covers Block 15 E.V.Nanjappa Street(or)Mettur Road 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 further assistance.

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

The guideline value is an essential factor in the registration process of property transactions in Ward B. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. It is crucial for buyers to be aware of the guideline value to avoid underreporting the sale price, which could lead to legal complications.

Frequently asked questions

What is the current guideline value for Block 15 E.V.Nanjappa Street(or)Mettur Road?

The current guideline value for Block 15 E.V.Nanjappa Street(or)Mettur 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, showing an overall increase of 520% over the years.

What is the land classification for this street?

Block 15 E.V.Nanjappa Street(or)Mettur Road is classified as Commercial Class I Type - II.

Where can I find the registration office for this area?

The registration office for Block 15 E.V.Nanjappa Street(or)Mettur Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in this area?

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