Guideline Value for Block 2 Cauvery Raod Main Road

Block 2 Cauvery Raod Main Road guideline value

The current guideline value of Block 2 Cauvery Raod Main Road is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and falls under the Residential Class II Type - II land classification.

How the guideline value of Block 2 Cauvery Raod Main Road has changed

Over the years, the guideline value for Block 2 Cauvery Raod Main Road has seen several revisions. The earliest recorded figure is from 2002, which was Rs 243 per sq.ft. This value increased to Rs 272 per sq.ft in 2003, marking a change of +12%. In 2007, the value rose significantly to Rs 300 per sq.ft, an increase of +10%. The 2012 revision saw the value jump to Rs 750 per sq.ft, a notable increase of +150%. However, in 2017, the value decreased to Rs 502 per sq.ft, reflecting a decline of -33%. The value then increased to Rs 750 per sq.ft in 2023, followed by the current figure of Rs 825 per sq.ft in 2024, which is a rise of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +240%. There are no figures in the register for any other years apart from those listed above.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 2 Cauvery Raod Main Road's 2024 figure below that median.

• Block 2 Azakarasan Nagar: Rs 771 per sq.ft (2024)
• Block 2 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 29 Theppakulam Street: Rs 1,650 per sq.ft (2024)
• Block 2 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 2 Krishnan Street: Rs 772 per sq.ft (2024)
• Block 2 Pachiamman Street 1,2: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Cauvery Raod Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. 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 Cauvery Raod Main Road?

The Sub Registrar Office that covers Block 2 Cauvery Raod Main Road 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 C

The guideline value is a crucial factor in the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Block 2 Cauvery Raod Main Road?

The current guideline value of Block 2 Cauvery Raod Main Road 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 several times, starting from Rs 243 per sq.ft in 2002 and reaching Rs 825 per sq.ft in 2024, reflecting an overall increase of +240% over the years.

What is the registration office for Block 2 Cauvery Raod Main Road?

The registration office for Block 2 Cauvery Raod Main Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,25,000, the stamp duty at 7% would be Rs 57,750.

What is the land classification for Block 2 Cauvery Raod Main Road?

Block 2 Cauvery Raod Main Road falls under the Residential Class II Type - II land classification, which is important for determining its usage and potential development.