Guideline Value for Block 20 Vetnari Hospital Road

Block 20 Vetnari Hospital Road guideline value

The current guideline value of Block 20 Vetnari Hospital Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Block 20 Vetnari Hospital Road has changed

The guideline value for Block 20 Vetnari Hospital Road has undergone several revisions over the years. In 2002, the value was Rs 288 per sq.ft, which increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value saw a modest increase of 7% to Rs 350 per sq.ft in 2007. However, a significant jump occurred in 2012 when the value rose to Rs 2,500 per sq.ft, reflecting a 614% increase. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, a decline of 33% from the previous revision. The value then increased by 49% to Rs 2,500 per sq.ft in 2023, culminating in the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 855%. The register has no figures for the years between these revisions for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 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 of Block 20 Vetnari Hospital Road is above this median.

• Block 20 Vannara Street (Porkai Pandian Street): Rs 771 per sq.ft (2024)
• Block 21 Chidhambaranar Street: Rs 772 per sq.ft (2024)
• Block 20 South Valluvar Street (Sambandar Street): Rs 771 per sq.ft (2024)
• Block 21 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 20 Poondurai Road: Rs 1,650 per sq.ft (2024)
• Block 20 Periyapallam Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Vetnari Hospital Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 20 Vetnari Hospital Road?

The Sub Registrar Office that covers Block 20 Vetnari Hospital Road 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 E

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements, as it affects the applicable stamp duty and registration fees.

When a property is bought or sold in Ward E, the guideline value serves as a benchmark for calculating the financial obligations associated with the transaction. It is crucial 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 20 Vetnari Hospital Road?

The current guideline value of Block 20 Vetnari Hospital Road is Rs 2,750 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 288 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 855% over the years.

What are the other streets in Ward E with their guideline values?

Other streets in Ward E include Block 20 Vannara Street (Porkai Pandian Street) at Rs 771 per sq.ft, Block 21 Chidhambaranar Street at Rs 772 per sq.ft, and Block 21 Gandhiji Road at Rs 3,300 per sq.ft, among others.

How is the stamp duty calculated for properties in Block 20 Vetnari Hospital Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.

Where can I find more information about the Sub Registrar Office?

The Erode Joint I Sub Registrar Office covers Block 20 Vetnari Hospital Road, and more information can be found by visiting the find your SRO link.