Guideline Value for Block 18 Nethaji Street

Block 18 Nethaji Street guideline value

The current guideline value of Block 18 Nethaji Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Commercial Class I Type - I.

How the guideline value of Block 18 Nethaji Street has changed

The guideline value for Block 18 Nethaji Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,381 per sq.ft, which increased to Rs 1,549 per sq.ft in 2003. Following that, the value rose to Rs 2,000 per sq.ft in 2007, and then saw a significant increase to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and finally reached the current rate of Rs 4,400 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +12%; from 2003 to 2007, it was +29%; from 2007 to 2012, it was +100%; from 2012 to 2017, it decreased by -33%; and from 2017 to 2023, there was an increase of +49%. The most recent change from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +219%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO, with guideline values for 2024 ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 798 per sq.ft, placing Block 18 Nethaji Street above this median.

• Block 18 Mariamman Kovil Street: Rs 1,100 per sq.ft (2024)
• Block 18 Mandi Street (Pon Street): Rs 6,600 per sq.ft (2024)
• Block 18 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 18 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 18 Valaiyakkara Street: Rs 1,375 per sq.ft (2024)
• Block 18 Agrahara Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Block 18 Nethaji Street?

The Sub Registrar Office that covers Block 18 Nethaji Street 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 D

The guideline value is a crucial factor when registering property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Block 18 Nethaji Street?

The current guideline value of Block 18 Nethaji Street is Rs 4,400 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 1,381 per sq.ft in 2002 to the current value of Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +219% since 2002.

What is the land classification for Block 18 Nethaji Street?

Block 18 Nethaji Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

How is the stamp duty calculated for properties in Block 18 Nethaji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 3,96,000 for stamp duty and registration fees combined.

Where can I find the Sub Registrar Office for Block 18 Nethaji Street?

The Sub Registrar Office for Block 18 Nethaji Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.