Guideline Value for Block 21 Vetnari Hospital Road

Block 21 Vetnari Hospital Road guideline value

The current guideline value of Block 21 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 21 Vetnari Hospital Road has changed

The guideline value for Block 21 Vetnari Hospital Road has seen several revisions over the years. In 2002, the guideline value was Rs 288 per sq.ft, which increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 400 per sq.ft in 2007, representing a 23% increase. Following this, there was a significant jump to Rs 2,500 per sq.ft in 2012, which was a 525% increase. However, the value decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% decline. The subsequent revisions saw the value rise to Rs 2,500 per sq.ft in 2023, an increase of 49%, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 855%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, making the 2024 figure for Block 21 Vetnari Hospital Road above that median.

• Block 22 Chithambaram Chettiar Colony: Rs 1,100 per sq.ft (2024)
• Block 21 Poyyerikkarai Street: Rs 771 per sq.ft (2024)
• Block 21 Perum Pallam Odai Huts: Rs 771 per sq.ft (2024)
• Block 22 Karuppa Gounder Street: Rs 772 per sq.ft (2024)
• Block 21 Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Block 22 Municipal Lane: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Vetnari Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and 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 or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 21 Vetnari Hospital Road?

The Sub Registrar Office that covers Block 21 Vetnari Hospital Road 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 details.

How the guideline value is used when you buy or sell in Ward E

The guideline value plays a crucial role in the registration process of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the appropriate fees are calculated. It is essential to refer to the latest guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Block 21 Vetnari Hospital Road?

The current guideline value of Block 21 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, showing an overall increase of 855% over this period.

What is the land classification for Block 21 Vetnari Hospital Road?

Block 21 Vetnari Hospital Road is classified as Commercial Class I Type - III.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.