Guideline Value for Block 20 Veerapathra Chettiar St

Block 20 Veerapathra Chettiar St guideline value

The current guideline value of Block 20 Veerapathra Chettiar St is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 20 Veerapathra Chettiar St has changed

The guideline value for Block 20 Veerapathra Chettiar St has seen several revisions over the years. In 2003, the guideline value was Rs 1,073 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and further to Rs 2,750 per sq.ft in 2024.

Notably, the increase from 2023 to 2024 was 10%. The change from 2017 to 2023 was a substantial 49%. However, there was a decrease of 33% from 2012 to 2017. The value rose by 67% from 2007 to 2012, and from 2003 to 2007, it increased by 40%. Overall, from 2003 to 2024, there has been a remarkable increase of 156%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 20 Veerapathra Chettiar St is above this median.

• Block 20 Venkatasalam Street: Rs 2,750 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 20 Sengoda Street: Rs 2,750 per sq.ft (2024)
• Block 20 R.K.Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 20 Nethaji Road Part 1: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Veerapathra Chettiar St

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the 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 Veerapathra Chettiar St?

The Sub Registrar Office that covers Block 20 Veerapathra Chettiar St 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 plays a crucial role in the registration process of property transactions in Ward C. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering 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 registration process reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Block 20 Veerapathra Chettiar St?

The current guideline value of Block 20 Veerapathra Chettiar St is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,073 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 156% over this period.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Block 20 Veerapathra Chettiar St?

The Erode Joint I Sub Registrar Office handles registrations for Block 20 Veerapathra Chettiar St, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the land classification for Block 20 Veerapathra Chettiar St?

Block 20 Veerapathra Chettiar St is classified as Commercial Class I Type - III.