Guideline Value for Block 18 Thillai Nagar

Block 18 Thillai Nagar guideline value

The current guideline value for Block 18 Thillai Nagar, located in Ward A village under the Erode Joint I SRO, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Block 18 Thillai Nagar has changed

The guideline value for Block 18 Thillai Nagar has undergone several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased significantly to Rs 856 per sq.ft in 2003. Following this, the value rose to Rs 900 per sq.ft in 2007, and then saw a substantial increase to Rs 2,300 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 1,541 per sq.ft. The value then climbed to Rs 2,300 per sq.ft in 2023, before reaching the current rate of Rs 2,530 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Block 18 Thillai Nagar has increased by 2,310%. The register has no figure for the years between 2012 and 2017 and does not contain any other revisions for this street.

Guideline values in Ward A

In Ward A, there are 111 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 value for this area is Rs 1,375 per sq.ft, indicating that Block 18 Thillai Nagar's current value is above this median.

• Block 18 Vasugi Street (or) Edayan Kattu Thottam: Rs 1,375 per sq.ft (2024)
• Block 18 Sait Colony: Rs 2,750 per sq.ft (2024)
• Block 19 Chinnamuthu Street: Rs 1,100 per sq.ft (2024)
• Block 19 E.V.Najappa Road Inside: Rs 2,750 per sq.ft (2024)
• Block 19 E.V.Nanjappa Road: Rs 6,600 per sq.ft (2024)
• Block 18 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Thillai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total fees together Rs 2,27,700. It is important to note that the 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 18 Thillai Nagar?

The Sub Registrar Office that covers Block 18 Thillai Nagar is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of property ownership. Buyers should be aware of the guideline value in their area to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Block 18 Thillai Nagar?

The current guideline value for Block 18 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 105 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, showing a significant overall increase of 2,310% over this period.

What is the land classification for Block 18 Thillai Nagar?

The land classification for Block 18 Thillai Nagar is Mixed Type - I, which indicates the type of development permitted in the area.

Where can I find the Sub Registrar Office for Block 18 Thillai Nagar?

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

How are stamp duty and registration fees calculated for properties in this area?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,30,000, the total fees would amount to Rs 2,27,700.