Guideline Value for Block 16 E.V.Najappa Road

Block 16 E.V.Najappa Road guideline value

The current guideline value for Block 16 E.V.Najappa Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Block 16 E.V.Najappa Road has changed

The guideline value for Block 16 E.V.Najappa Road has seen several revisions over the years. In 2002, the value was Rs 532 per sq.ft, which increased to Rs 596 per sq.ft in 2003, marking a rise of 12%. The value continued to increase, reaching Rs 750 per sq.ft in 2007, representing a significant increase of 26%. However, it then saw a dramatic rise to Rs 3,000 per sq.ft in 2012, a jump of 300%. After this, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 520%. Notably, the register has no figures for the years between 2012 and 2017, as well as between 2017 and 2023.

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, positioning Block 16 E.V.Najappa Road above this median.

• Block 16 Huts (Stanlypalam): Rs 770 per sq.ft (2024)
• Block 15 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 15 Mosuvana Street: Rs 1,100 per sq.ft (2024)
• Block 15 Mosuvana Kadu: Rs 1,100 per sq.ft (2024)
• Block 15 Kanthappa Street (or) Kandasamy Street: Rs 825 per sq.ft (2024)
• Block 16 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 E.V.Najappa 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 fees together to Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Block 16 E.V.Najappa Road?

The Sub Registrar Office that covers Block 16 E.V.Najappa 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 B

The guideline value is a crucial factor in property transactions in Ward B, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with local regulations and helps in accurately assessing the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Block 16 E.V.Najappa Road?

The current guideline value of Block 16 E.V.Najappa 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 significantly from Rs 532 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 520% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Block 16 E.V.Najappa Road?

The Erode Joint I Sub Registrar Office handles property registrations for Block 16 E.V.Najappa Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 16 E.V.Najappa Road?

Block 16 E.V.Najappa Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.