Guideline Value for Block 2 Azakarasan Nagar

Block 2 Azakarasan Nagar guideline value

The current guideline value of Block 2 Azakarasan Nagar is Rs 771 per sq.ft. This property is located in Ward C village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 2 Azakarasan Nagar has changed

The guideline value for Block 2 Azakarasan Nagar has seen several revisions over the years. The earliest available figure is from 2003, where it was Rs 272 per sq.ft. This value increased to Rs 300 per sq.ft in 2007, followed by a rise to Rs 500 per sq.ft in 2012. However, there was a notable decrease to Rs 335 per sq.ft in 2017. The value then surged to Rs 700 per sq.ft in 2023, and currently stands at Rs 771 per sq.ft as of the 2024 revision. The register has no figure for this street for the year 2002.

Between these revisions, the most significant change occurred from 2017 to 2023, with an increase of 109%. The value also saw a 67% increase from 2007 to 2012. The overall increase from 2003 to 2024 is 183%, reflecting a steady rise in the guideline value over the years.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with a 2024 guideline value range from Rs 770 to Rs 7,700 per sq.ft. The median value in this area is Rs 1,375 per sq.ft, placing the guideline value of Block 2 Azakarasan Nagar below this median.

• Block 2 Cauvery Raod Main Road: Rs 825 per sq.ft (2024)
• Block 29 Theppakulam Street: Rs 1,650 per sq.ft (2024)
• Block 2 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 2 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 2 Krishnan Street: Rs 772 per sq.ft (2024)
• Block 29 Kothukara Nalla Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Azakarasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420. Together, these fees would total Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 2 Azakarasan Nagar?

The Sub Registrar Office that covers Block 2 Azakarasan Nagar 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 C

The guideline value is a crucial factor during the registration process of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial implications of their property dealings.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 2 Azakarasan Nagar?

The current guideline value of Block 2 Azakarasan Nagar is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 272 per sq.ft in 2003 to Rs 771 per sq.ft in 2024, with several revisions in between, including a significant increase of 109% from 2017 to 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles property registrations in Block 2 Azakarasan Nagar?

The Erode Joint I Sub Registrar Office is responsible for property registrations in Block 2 Azakarasan Nagar, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 2 Azakarasan Nagar?

Block 2 Azakarasan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.