Guideline Value for Block 2 Chokkai Thottam

Block 2 Chokkai Thottam guideline value

The current guideline value of Block 2 Chokkai Thottam is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 2 Chokkai Thottam has changed

The guideline value for Block 2 Chokkai Thottam has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 144 per sq.ft. This increased to Rs 162 per sq.ft in 2003, marking a 13% rise. In 2007, the value further increased to Rs 200 per sq.ft, representing a 23% change. The 2012 revision set the value at Rs 500 per sq.ft, which was a significant increase of 150%. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a substantial increase to Rs 700 per sq.ft, which was a 109% rise from the previous figure. Finally, the current 2024 revision has set the guideline value at Rs 771 per sq.ft, showing a 10% increase from 2023.

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 for these streets is Rs 1,375 per sq.ft, indicating that the 2024 guideline value for Block 2 Chokkai Thottam is below this median.

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

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, making the total charges Rs 69,390. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 2 Chokkai Thottam?

The Sub Registrar Office that covers Block 2 Chokkai Thottam 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 critical factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Block 2 Chokkai Thottam?

The current guideline value of Block 2 Chokkai Thottam 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 144 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, which is an overall increase of 435% over the years.

What is the land classification for Block 2 Chokkai Thottam?

Block 2 Chokkai Thottam is classified as Residential Class III Type - I.

Where can I find the registration office for Block 2 Chokkai Thottam?

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

How is the stamp duty calculated for properties in Block 2 Chokkai Thottam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 53,970, along with a registration fee of Rs 15,420.