Guideline Value for Block 17 E.V.Nanjappa Road

Block 17 E.V.Nanjappa Road guideline value

The current guideline value of Block 17 E.V.Nanjappa Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Commercial Class I Type - II.

How the guideline value of Block 17 E.V.Nanjappa Road has changed

The guideline value for Block 17 E.V.Nanjappa Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, this figure saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 17 E.V.Nanjappa Road is above this median.

• Block 17 Marappagounder Street: Rs 1,100 per sq.ft (2024)
• Block 16 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 17 PoosariChennimalai Street 1,2,3 (P.G.Kadu): Rs 1,100 per sq.ft (2024)
• Block 17 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 16 Huts (Stanlypalam): Rs 770 per sq.ft (2024)
• Block 16 E.V.Najappa Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 E.V.Nanjappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 17 E.V.Nanjappa Road?

The Sub Registrar Office covering Block 17 E.V.Nanjappa 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 determining the stamp duty and registration fees when buying or selling property in Ward B. It serves as a benchmark for the value of the property, ensuring that the appropriate taxes are applied based on the official valuation.

When registering a property, the guideline value helps in calculating the costs associated with the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Block 17 E.V.Nanjappa Road?

The current guideline value of Block 17 E.V.Nanjappa 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Block 17 E.V.Nanjappa Road?

Block 17 E.V.Nanjappa Road is classified as Commercial Class I Type - II.

Where can I find the registration office for this property?

The registration office for Block 17 E.V.Nanjappa Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

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