Guideline Value for Block 22 Veerapathira Road

Block 22 Veerapathira Road guideline value

The current guideline value for Block 22 Veerapathira Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 22 Veerapathira Road has changed

The guideline value for Block 22 Veerapathira Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 958 per sq.ft. This increased to Rs 1,073 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 1,500 per sq.ft in 2007, which was a 40% increase. Following that, the 2012 revision set the value at Rs 2,500 per sq.ft, reflecting a 67% increase from the previous figure. However, in 2017, the value dropped to Rs 1,675 per sq.ft, showing a decrease of 33%.

In the subsequent revisions, the guideline value rose again to Rs 2,500 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, indicating a 10% increase from the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 187%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging 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 22 Veerapathira Road is above this median.

• Block 22 Vaniyar Street (or) Kovalan Street: Rs 1,100 per sq.ft (2024)
• Block 22 Venkatachalam Street: Rs 2,750 per sq.ft (2024)
• Block 22 Subramaniyan Street: Rs 1,375 per sq.ft (2024)
• Block 23 AkilMedu Street: Rs 2,750 per sq.ft (2024)
• Block 23 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 22 Veerapathira Road?

The Sub Registrar Office that covers Block 22 Veerapathira Road 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value can affect the overall cost of registration.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This helps ensure that the registration process is transparent and standardized across various properties in the region.

Frequently asked questions

What is the current guideline value for Block 22 Veerapathira Road?

The current guideline value for Block 22 Veerapathira 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 several times, increasing from Rs 958 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 187% over this period.

What is the land classification for Block 22 Veerapathira Road?

Block 22 Veerapathira Road is classified as Commercial Class I Type - III, which indicates its intended use for commercial purposes.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

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

The Sub Registrar Office for Block 22 Veerapathira Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.