Guideline Value for Block 21 Nethaji Street Part 2

Block 21 Nethaji Street Part 2 guideline value

The current guideline value for Block 21 Nethaji Street Part 2 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it is classified as Commercial Special Type - III.

How the guideline value of Block 21 Nethaji Street Part 2 has changed

The guideline value for Block 21 Nethaji Street Part 2 has seen several revisions over the years. The earliest figure recorded in 2002 was Rs 1,424 per sq.ft. This value increased to Rs 1,595 per sq.ft in 2003, marking a rise of 12%. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2007, which was a 57% increase. In 2012, the guideline value was Rs 5,000 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, it decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 286%. There are no figures available for revisions in years not mentioned in the register.

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 21 Nethaji Street Part 2 is significantly above this median.

• Block 21 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 21 Sultan Pettai Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 21 West Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 20 Venkatasalam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Nethaji Street Part 2

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 21 Nethaji Street Part 2?

The Sub Registrar Office that covers Block 21 Nethaji Street Part 2 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 is a crucial factor during the registration process of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value for Block 21 Nethaji Street Part 2?

The current guideline value for Block 21 Nethaji Street Part 2 is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,424 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 286%.

What is the land classification for Block 21 Nethaji Street Part 2?

Block 21 Nethaji Street Part 2 is classified as Commercial Special Type - III.

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

The Sub Registrar Office for Block 21 Nethaji Street Part 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.