Guideline Value for Block 22 Nethaji Road

Block 22 Nethaji Road guideline value

The current guideline value of Block 22 Nethaji Road 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, classified as Commercial Special Type - III.

How the guideline value of Block 22 Nethaji Road has changed

The guideline value for Block 22 Nethaji Road has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, there was a significant increase of 49%, and from 2023 to 2024, the value rose by 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value is Rs 1,375 per sq.ft, placing Block 22 Nethaji Road's 2024 figure above that median.

• Block 22 Municipality Lane: Rs 1,100 per sq.ft (2024)
• Block 22 Sengoda Lane: Rs 1,100 per sq.ft (2024)
• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)
• Block 22 Subramaniyan Street: Rs 1,375 per sq.ft (2024)
• Block 22 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 21 West Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Nethaji Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 22 Nethaji Road?

The Sub Registrar Office that covers Block 22 Nethaji 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to assess the appropriate fees payable. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 22 Nethaji Road?

The current guideline value of Block 22 Nethaji Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Block 22 Nethaji Road?

Block 22 Nethaji Road is classified as Commercial Special Type - III under the Erode Joint I SRO.

Where can I find the Sub Registrar Office for Block 22 Nethaji Road?

The Sub Registrar Office for Block 22 Nethaji Road 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the total fees would include a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000.