Guideline Value for Block 20 Varanavasi Street

Block 20 Varanavasi Street guideline value

The current guideline value of Block 20 Varanavasi Street is Rs 825 per sq.ft. This street is located in Ward A village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 20 Varanavasi Street has changed

The guideline value for Block 20 Varanavasi Street has undergone several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased significantly to Rs 320 per sq.ft in 2003, marking a change of +205%. The value then rose to Rs 350 per sq.ft in 2007, reflecting a +9% change. In 2012, the value was recorded at Rs 750 per sq.ft, which was a substantial increase of +114% from the previous revision. However, in 2017, it decreased to Rs 502 per sq.ft, showing a decline of -33%.

Following the 2017 revision, the guideline value increased to Rs 750 per sq.ft in 2023, representing a +49% change. The most recent revision in 2024 set the guideline value at Rs 825 per sq.ft, which is a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +686%.

Guideline values in Ward A

In Ward A, there are 111 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 value of Rs 1,375 per sq.ft. The guideline value of Block 20 Varanavasi Street is below this median.

• Block 20 Thiru.V.K.Street: Rs 1,375 per sq.ft (2024)
• Block 21 Chinnamuthu Street Main Road: Rs 1,375 per sq.ft (2024)
• Block 21 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 20 Municipal Colony Road: Rs 1,375 per sq.ft (2024)
• Block 21 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Varanavasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. 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 Varanavasi Street?

The Sub Registrar Office that covers Block 20 Varanavasi 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 A

The guideline value is a crucial factor in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, 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 correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 20 Varanavasi Street?

The current guideline value of Block 20 Varanavasi Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 in 2002 to Rs 825 in 2024, showing an overall increase of +686% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles registrations for Block 20 Varanavasi Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 20 Varanavasi Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the classification of land for Block 20 Varanavasi Street?

Block 20 Varanavasi Street is classified as Residential Class II Type - II, indicating its use for residential purposes.