Guideline Value for Block 19 Varanavasi Street

Block 19 Varanavasi Street guideline value

The current guideline value of Block 19 Varanavasi Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Block 19 Varanavasi Street has changed

The guideline value for Block 19 Varanavasi Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 105 per sq.ft. It increased significantly to Rs 359 per sq.ft in 2003, marking a change of +242%. The value continued to rise, reaching Rs 400 per sq.ft in 2007, which was an increase of +11%. The 2012 revision saw the value at Rs 750 per sq.ft, representing an increase of +88%. However, between 2012 and 2017, the value dropped to Rs 502 per sq.ft, a decrease of -33%. The next revision in 2023 set the value at Rs 750 per sq.ft, followed by the current figure of Rs 825 per sq.ft in 2024, reflecting a change of +10%.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +686%. There are no figures available for the revisions in any other years 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 guideline value for these streets is Rs 1,375 per sq.ft, placing Block 19 Varanavasi Street's 2024 figure below that median.

• Block 19 Thiyagi Kumaram Street: Rs 1,375 per sq.ft (2024)
• Block 19 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 19 Nasiyanur Road: Rs 1,375 per sq.ft (2024)
• Block 1 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 19 Municipal Colony Road 1 to 5: Rs 2,750 per sq.ft (2024)
• Block 1 Krishnapalayam Road 1,2,3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 Varanavasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees together to Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 19 Varanavasi Street?

The Sub Registrar Office that covers Block 19 Varanavasi 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 information.

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

The guideline value is a crucial figure used during the registration of property transactions in Ward A. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in establishing the minimum value for the transaction, which is important for tax purposes. Buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Block 19 Varanavasi Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +686% over the years.

What is the land classification of Block 19 Varanavasi Street?

Block 19 Varanavasi Street falls under the Residential Class II Type - II land classification.

Where can I find the registration office for this street?

The registration office for Block 19 Varanavasi Street 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?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 74,250.