Guideline Value for Block 2 Chidambaram colony

Block 2 Chidambaram colony guideline value

The current guideline value of Block 2 Chidambaram colony is Rs 1,925 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Block 2 Chidambaram colony has changed

The guideline value for Block 2 Chidambaram colony has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 1,052 per sq.ft. This value increased to Rs 1,500 per sq.ft in 2007, then to Rs 1,750 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,172 per sq.ft. The 2023 revision marked a significant increase to Rs 1,750 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 1,925 per sq.ft.

Between these revisions, there have been notable changes: from 2017 to 2023, there was a 49% increase; from 2012 to 2017, a decrease of 33%; from 2007 to 2012, an increase of 17%; and from 2003 to 2007, an increase of 43%. Overall, from 2003 to 2024, the guideline value has increased by 83%. The register has no figure for this street for the year 2002.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Block 2 Chidambaram colony's 2024 figure above this median.

• Block 2 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)
• Block 2 Muthusamy Gounder Lane: Rs 825 per sq.ft (2024)
• Block 29 Railway Colony: Rs 771 per sq.ft (2024)
• Block 2 Muthusamy Gounder Street (Athiyaman Street): Rs 825 per sq.ft (2024)
• Block 29 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 29 Nethaji Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Chidambaram colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty, charged at 7%, would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500. Together, the total cost for these fees would be Rs 1,73,250. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Block 2 Chidambaram colony?

Block 2 Chidambaram colony falls under the jurisdiction of 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 E

The guideline value is a critical component in the registration process of property transactions in Ward E. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property.

When a property is registered, the guideline value acts as a benchmark, ensuring that the fees are calculated fairly based on the established rates for the area. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 2 Chidambaram colony?

The current guideline value of Block 2 Chidambaram colony is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,052 per sq.ft in 2003 to Rs 1,925 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What is the registration office for Block 2 Chidambaram colony?

The registration office for Block 2 Chidambaram colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for property in Block 2 Chidambaram colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,25,000, the stamp duty would be Rs 1,34,750, calculated at 7%.

What are the other streets in Ward E with their guideline values?

Other streets in Ward E include Block 2 E.C.Muthusamy Gounder Lay-out at Rs 1,100 per sq.ft, Block 2 Muthusamy Gounder Lane at Rs 825 per sq.ft, and Block 29 Railway Colony at Rs 771 per sq.ft, among others.