Guideline Value for Block 21 Periyar Nagar

Block 21 Periyar Nagar guideline value

The current guideline value for Block 21 Periyar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ward E village under the Erode Joint I SRO, and it is classified as Residential Special Type - I.

How the guideline value of Block 21 Periyar Nagar has changed

The guideline value for Block 21 Periyar Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 653 per sq.ft, which increased to Rs 738 per sq.ft in 2003, marking a change of +13%. Following this, the value saw a significant rise to Rs 1,500 per sq.ft in 2007, reflecting a growth of +103%. However, between 2007 and 2012, the value decreased to Rs 2,000 per sq.ft, a drop of -33%. The 2017 revision set the value at Rs 1,340 per sq.ft, which then increased to Rs 2,000 per sq.ft in 2023, showing a notable increase of +49%. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +237%. There are no figures available for revisions in years other than those listed.

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. The median value for these streets is Rs 825 per sq.ft, placing Block 21 Periyar Nagar's 2024 figure above this median.

• Block 21 Perum Pallam Odai Huts: Rs 771 per sq.ft (2024)
• Block 21 Poyyerikkarai Street: Rs 771 per sq.ft (2024)
• Block 21 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 21 Chidhambaranar Street: Rs 772 per sq.ft (2024)
• Block 21 Vetnari Hospital Road: Rs 2,750 per sq.ft (2024)
• Block 20 Vetnari Hospital Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 21 Periyar Nagar?

The Sub Registrar Office that covers Block 21 Periyar Nagar 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 a crucial reference point when registering property transactions in Ward E. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process.

When a property is bought or sold, the guideline value helps determine the official value of the property for legal and taxation purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Block 21 Periyar Nagar?

The current guideline value for Block 21 Periyar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 653 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of +237% over the years.

What is the classification of land in Block 21 Periyar Nagar?

Block 21 Periyar Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Block 21 Periyar Nagar located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.