Guideline Value for Block 2 Veerappa Street

Block 2 Veerappa Street guideline value

The current guideline value of Block 2 Veerappa Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 2 Veerappa Street has changed

The guideline value for Block 2 Veerappa Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 209 per sq.ft. This increased to Rs 250 per sq.ft in 2007, followed by a rise to Rs 500 per sq.ft in 2012. However, there was a significant drop to Rs 335 per sq.ft in 2017. From 2017 to 2023, the value surged to Rs 700 per sq.ft, marking an increase of 109%. The latest revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 2 Veerappa Street is below this median.

• Block 2 Ranga Bavan Street: Rs 771 per sq.ft (2024)
• Block 2 Ponnusamy Theru: Rs 770 per sq.ft (2024)
• Block 2 New Cauvery Road: Rs 771 per sq.ft (2024)
• Block 2 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 2 Karungalpalayam Vaykal Marapalam Road: Rs 825 per sq.ft (2024)
• Block 2 Arumugam Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Veerappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 2 Veerappa Street?

The Sub Registrar Office that covers Block 2 Veerappa Street 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 D

The guideline value is a critical factor in the registration process for property transactions in Ward D. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 2 Veerappa Street?

The current guideline value of Block 2 Veerappa Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 209 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, with significant increases and decreases occurring at various intervals.

What is the land classification for Block 2 Veerappa Street?

Block 2 Veerappa Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Block 2 Veerappa Street 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 Veerappa Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 7,70,000, the stamp duty would be Rs 53,900.