Guideline Value for Block 19 Nethaji Street

Block 19 Nethaji Street guideline value

The current guideline value for Block 19 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, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Block 19 Nethaji Street has changed

Over the years, the guideline value for Block 19 Nethaji Street has seen significant changes. The earliest recorded figure is from 2002, where the value was Rs 1,381 per sq.ft. This increased to Rs 1,548 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 2,000 per sq.ft in 2007, reflecting a 29% increase. Following this, the value doubled to Rs 4,000 per sq.ft in 2012, which was a 100% increase. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, representing a 10% increase.

In summary, from 2017 to 2023, the value increased by 49%, and from 2002 to 2024, the overall increase is 219%. There are no figures available for revisions in years other than those listed.

Guideline values in Ward D

In Ward D, the guideline values for 2024 range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 19 Nethaji Street is above this median, indicating its higher valuation compared to other streets in the ward.

• Block 19 Neducheralathan Street: Rs 771 per sq.ft (2024)
• Block 19 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 19 Cutcheri Street: Rs 1,375 per sq.ft (2024)
• Block 19 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 1 Cauvery Nagar: Rs 771 per sq.ft (2024)
• Block 19 Court Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 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 would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 19 Nethaji Street?

The Sub Registrar Office covering Block 19 Nethaji Street 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward D. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, providing transparency in property dealings. Buyers and sellers should always be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Block 19 Nethaji Street?

The current guideline value of Block 19 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 significantly from Rs 1,381 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 219% over the years.

What is the stamp duty rate for property in Block 19 Nethaji Street?

The stamp duty rate for property in Block 19 Nethaji Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 19 Nethaji Street located?

The Sub Registrar Office for Block 19 Nethaji Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a fair value, providing transparency in the buying and selling process.