Guideline Value for Block 22 Nallappa Gounder Street

Block 22 Nallappa Gounder Street guideline value

The current guideline value of Block 22 Nallappa Gounder Street is Rs 772 per sq.ft. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 22 Nallappa Gounder Street has changed

The guideline value for Block 22 Nallappa Gounder Street has changed significantly over the years. In 2002, the value was Rs 216 per sq.ft, which increased to Rs 245 per sq.ft in 2003, marking a 13% rise. The value then saw a substantial increase of 43% to Rs 350 per sq.ft in 2007, followed by a jump of 71% to Rs 600 per sq.ft in 2012. However, there was a decline of 33% to Rs 402 per sq.ft in 2017. The value continued to rise, reaching Rs 700 per sq.ft in 2023, and is set to increase by 10% to Rs 772 per sq.ft in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 257%. The register has no figure for the years not mentioned, ensuring that all revisions are accounted for in this analysis.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Block 22 Nallappa Gounder Street below the median value.

• Block 22 Municipal Lane: Rs 771 per sq.ft (2024)
• Block 22 Rasa Gounder Kadu: Rs 825 per sq.ft (2024)
• Block 22 Rasa Gounder Lane: Rs 772 per sq.ft (2024)
• Block 22 Karuppa Gounder Street: Rs 772 per sq.ft (2024)
• Block 22 Rasa Gounder Street: Rs 825 per sq.ft (2024)
• Block 22 S.K.C Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Nallappa Gounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value amounts to Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, and the registration fee at 2% would be Rs 15,440, bringing the total fees to Rs 69,480. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Nallappa Gounder Street?

The Sub Registrar Office that covers Block 22 Nallappa Gounder Street 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 E

The guideline value is a crucial factor when buying or selling property in Ward E. It helps determine the amount of stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the Registration Department and is revised periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, which is essential for public services and infrastructure development.

Frequently asked questions

What is the current guideline value of Block 22 Nallappa Gounder Street?

The current guideline value of Block 22 Nallappa Gounder Street is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 216 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, marking an overall increase of 257% over this period.

What is the classification of Block 22 Nallappa Gounder Street?

Block 22 Nallappa Gounder Street is classified as Residential Class II Type - III, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Block 22 Nallappa Gounder Street?

The Sub Registrar Office for Block 22 Nallappa Gounder Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What fees are associated with buying property in Block 22 Nallappa Gounder Street?

When buying property in Block 22 Nallappa Gounder Street, the buyer must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.