Guideline Value for Block 23 Housing Unit (Periyar Nagar)

Block 23 Housing Unit (Periyar Nagar) guideline value

The current guideline value for Block 23 Housing Unit (Periyar Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Block 23 Housing Unit (Periyar Nagar) has changed

The guideline value for Block 23 Housing Unit (Periyar Nagar) has undergone several revisions over the years. In 2002, the value was Rs 653 per sq.ft, which increased to Rs 738 per sq.ft in 2003, marking a 13% rise. The value then saw a significant increase to Rs 1,500 per sq.ft in 2007, reflecting a 103% change. Following this, the value was revised to Rs 2,000 per sq.ft in 2012, a decrease of 33%. The 2017 revision set the value at Rs 1,340 per sq.ft, which was a 49% increase from the previous year. The most recent revision in 2023 raised the guideline value to Rs 2,000 per sq.ft, before the current rate of Rs 2,200 per sq.ft was established in 2024, marking a 10% increase.

There are no figures available for the revisions in years not listed in the register. The overall change from 2002 to 2024 reflects an increase of 237% in the guideline value.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value 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 23 Housing Unit (Periyar Nagar) above this median.

• Block 23 Govindharaja Street (or) Nagar: Rs 1,100 per sq.ft (2024)
• Block 23 Kaliyankadu Huts: Rs 771 per sq.ft (2024)
• Block 23 Gandhiji Road: Rs 3,300 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)
• Block 23 Chithambaram Colony street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Housing Unit (Periyar Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 23 Housing Unit (Periyar Nagar)?

The Block 23 Housing Unit (Periyar Nagar) falls under 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

When buying or selling property in Ward E, the guideline value is an essential factor during the registration process. It is used to determine the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in property transactions. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Block 23 Housing Unit (Periyar Nagar)?

The current guideline value for Block 23 Housing Unit (Periyar Nagar) is Rs 2,200 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 653 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 237% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

What is the classification of land for Block 23 Housing Unit (Periyar Nagar)?

The land classification for Block 23 Housing Unit (Periyar Nagar) is Residential Special Type - I.

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

The Sub Registrar Office covering Block 23 Housing Unit (Periyar Nagar) is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.