Guideline Value for Block 16 Nethaji Road

Block 16 Nethaji Road guideline value

The current guideline value for Block 16 Nethaji Road 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, classified as Residential Class I Type - III.

How the guideline value of Block 16 Nethaji Road has changed

The guideline value for Block 16 Nethaji Road has undergone several revisions over the years. In 2002, the value was Rs 621 per sq.ft, which increased to Rs 702 per sq.ft in 2003, marking a 13% rise. The value continued to increase to Rs 900 per sq.ft in 2007, representing a 28% increase. However, from 2007 to 2012, the value saw a decrease to Rs 1,250 per sq.ft, a drop of 33%.

In 2017, the value was revised to Rs 837 per sq.ft, and then it increased significantly to Rs 1,250 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 1,375 per sq.ft, showing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 121%.

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. The median guideline value is Rs 825 per sq.ft, placing Block 16 Nethaji Road's 2024 figure above this median.

• Block 16 Muthukumarasamy Nagar(Singaravelu Street): Rs 825 per sq.ft (2024)
• Block 16 Rajaji Street: Rs 825 per sq.ft (2024)
• Block 17 Annamalai Pillai Lane: Rs 771 per sq.ft (2024)
• Block 17 Annamalai Pillai Street: Rs 771 per sq.ft (2024)
• Block 16 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)
• Block 16 Chinnusamy Road: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 16 Nethaji Road?

The Sub Registrar Office that covers Block 16 Nethaji 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 a crucial factor in the registration process of property transactions in Ward E. It is used to calculate the stamp duty and registration fees, which are mandatory when buying or selling property. The higher of the guideline value and the sale price is considered for these calculations.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and fairly. It provides a standardized method to assess property value, which is essential for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value for Block 16 Nethaji Road?

The current guideline value for Block 16 Nethaji Road 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 multiple times, starting from Rs 621 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 121%.

What is the land classification for Block 16 Nethaji Road?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,23,750.

Where can I find the Sub Registrar Office for Block 16 Nethaji Road?

The Erode Joint I Sub Registrar Office covers Block 16 Nethaji Road and is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.