Guideline Value for Block 20 Nethaji Road Part 1

Block 20 Nethaji Road Part 1 guideline value

The current guideline value of Block 20 Nethaji Road Part 1 is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Ward C of Erode Joint I SRO, classified as Commercial Special Type - III.

How the guideline value of Block 20 Nethaji Road Part 1 has changed

The guideline value for Block 20 Nethaji Road Part 1 has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 1,436 per sq.ft. This increased to Rs 1,609 per sq.ft in 2003, marking a 12% rise. Following this, the value rose by 24% to Rs 2,000 per sq.ft in 2007. The value then experienced a significant increase of 150% to reach Rs 5,000 per sq.ft in 2012. However, it decreased by 33% to Rs 3,350 per sq.ft in 2017. The subsequent revision in 2023 saw a notable increase of 49%, bringing the value to Rs 5,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as of 2024, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 20 Nethaji Road Part 1 is above this median, indicating its relative value within the ward.

• Block 20 R.K.Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 20 Easwaran Kovil Lane: Rs 2,750 per sq.ft (2024)
• Block 20 Sengoda Street: Rs 2,750 per sq.ft (2024)
• Block 20 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 1 Vandiuran Kovil Street: Rs 771 per sq.ft (2024)
• Block 20 Veerapathra Chettiar St: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Nethaji Road Part 1

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. The total cost for these fees together would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 20 Nethaji Road Part 1?

The Sub Registrar Office that covers Block 20 Nethaji Road Part 1 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 plays a crucial role in the registration process for property transactions in Ward C. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the property’s official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall expenses involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Block 20 Nethaji Road Part 1?

The current guideline value of Block 20 Nethaji Road Part 1 is Rs 5,500 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 1,436 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 283% over the years.

What are the stamp duty and registration fees for property in Block 20 Nethaji Road Part 1?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 20 Nethaji Road Part 1, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that these costs are based on the official valuation of the property.