Guideline Value for Block 2 S.K. Chenniappa Gounder Road

Block 2 S.K. Chenniappa Gounder Road guideline value

The current guideline value for Block 2 S.K. Chenniappa Gounder Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Block 2 S.K. Chenniappa Gounder Road has changed

The guideline value for Block 2 S.K. Chenniappa Gounder Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 556 per sq.ft, which increased to Rs 629 per sq.ft in 2003, marking a 13% rise. The value then continued to rise to Rs 750 per sq.ft in 2007, reflecting a 19% increase. In 2012, the value was Rs 1,500 per sq.ft, showing a significant 100% increase from the previous revision. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which then increased by 10% to the current rate of Rs 1,650 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 197%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median of Rs 825 per sq.ft. The guideline value for Block 2 S.K. Chenniappa Gounder Road is above this median.

• Block 30 Karur Road: Rs 771 per sq.ft (2024)
• Block 2 Muthusamy Gounder Street (Athiyaman Street): Rs 825 per sq.ft (2024)
• Block 2 Muthusamy Gounder Lane: Rs 825 per sq.ft (2024)
• Block 30 Nethaji Road: Rs 771 per sq.ft (2024)
• Block 30 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 2 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 S.K. Chenniappa Gounder Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please 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 information.

Which Sub Registrar Office covers Block 2 S.K. Chenniappa Gounder Road?

The Sub Registrar Office that covers Block 2 S.K. Chenniappa Gounder Road 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward E. It is used to calculate the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure they are prepared for these costs.

When a property is sold, the guideline value serves as a benchmark for determining the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 2 S.K. Chenniappa Gounder Road?

The current guideline value for Block 2 S.K. Chenniappa Gounder Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 556 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 197% over this period.

What is the registration fee for properties in this area?

The registration fee for properties in Block 2 S.K. Chenniappa Gounder Road is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 2 S.K. Chenniappa Gounder Road 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 this area?

The stamp duty for properties in Block 2 S.K. Chenniappa Gounder Road is charged at 7% of the higher value between the guideline value and the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.