Guideline Value for Block 16 Chinnusamy Road

Block 16 Chinnusamy Road guideline value

The current guideline value of Block 16 Chinnusamy Road is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 16 Chinnusamy Road has changed

The guideline value for Block 16 Chinnusamy Road has undergone several revisions over the years. In 2002, the value was Rs 288 per sq.ft. This increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value then saw a modest increase to Rs 350 per sq.ft in 2007, which was a 7% change. Following this, it rose to Rs 500 per sq.ft in 2012, reflecting a 43% increase. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, showing a decline of 33%. The next revision in 2023 set the value at Rs 700 per sq.ft, a significant increase of 109% from the previous figure. Finally, the current 2024 revision has set the guideline value at Rs 771 per sq.ft, which is a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 168%. The register does not contain figures for any other years for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with a 2024 guideline value range from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, indicating that the 2024 figure for Block 16 Chinnusamy Road is below this median.

• Block 16 Annamalai Street: Rs 1,100 per sq.ft (2024)
• Block 16 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)
• Block 15 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 15 Nethaji Road Part-1: Rs 1,375 per sq.ft (2024)
• Block 16 Muthukumarasamy Nagar(Singaravelu Street): Rs 825 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Chinnusamy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 16 Chinnusamy Road?

The Sub Registrar Office that covers Block 16 Chinnusamy 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 more information.

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

The guideline value is an important factor in the registration process of property transactions in Ward E. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the financial obligations during the registration process. Understanding the guideline value can help in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Block 16 Chinnusamy Road?

The current guideline value of Block 16 Chinnusamy Road is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 288 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 168%.

What is the land classification for Block 16 Chinnusamy Road?

Block 16 Chinnusamy Road is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles property registrations for Block 16 Chinnusamy Road?

The Erode Joint I Sub Registrar Office handles property registrations for Block 16 Chinnusamy Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.