Guideline Value for Block 23 Govindharaja Street (or) Nagar

Block 23 Govindharaja Street (or) Nagar guideline value

The current guideline value of Block 23 Govindharaja Street (or) Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 23 Govindharaja Street (or) Nagar has changed

The guideline value for Block 23 Govindharaja Street (or) Nagar has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 576 per sq.ft. This increased to Rs 651 per sq.ft in 2003, marking a 13% rise. The value continued to increase to Rs 750 per sq.ft in 2007, a 15% increase, and then to Rs 1,000 per sq.ft in 2012, reflecting a 33% decrease from the previous revision. The value was Rs 670 per sq.ft in 2017, which was a 49% increase from the 2012 figure. The most recent revision in 2023 set the guideline value at Rs 1,000 per sq.ft, which then increased by 10% to the current rate of Rs 1,100 per sq.ft in 2024.

There are no figures for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 91%.

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 value is Rs 825 per sq.ft, and the guideline value for Block 23 Govindharaja Street (or) Nagar is above this median.

• Block 23 Housing Unit (Periyar Nagar): Rs 2,200 per sq.ft (2024)
• Block 23 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 23 Kaliyankadu Huts: Rs 771 per sq.ft (2024)
• Block 23 Chithambaram Colony street: Rs 1,100 per sq.ft (2024)
• Block 23 Kulathu Palayam: Rs 771 per sq.ft (2024)
• Block 23 Mettur Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Govindharaja Street (or) Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 23 Govindharaja Street (or) Nagar?

The Sub Registrar Office covering Block 23 Govindharaja Street (or) Nagar 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 an important factor when buying or selling property in Ward E. It serves as a basis for calculating the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately in the government records. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of Block 23 Govindharaja Street (or) Nagar?

The current guideline value of Block 23 Govindharaja Street (or) Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 576 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 91% over this period.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers this street?

The Erode Joint I Sub Registrar Office covers Block 23 Govindharaja Street (or) Nagar, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is accurately recorded in government records and helps determine the financial obligations of buyers and sellers.