Guideline Value for Block 23 NedunSeralathan Theru

Block 23 NedunSeralathan Theru guideline value

The current guideline value of Block 23 NedunSeralathan Theru is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 23 NedunSeralathan Theru has changed

The guideline value for Block 23 NedunSeralathan Theru has seen several revisions over the years. In 2003, the value was Rs 389 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, the value rose to Rs 750 per sq.ft in 2012, but then decreased to Rs 502 per sq.ft in 2017. The 2023 revision set the value at Rs 750 per sq.ft, and the most recent revision in 2024 has increased it to Rs 825 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 10%. The overall change from 2003 to 2024 reflects a significant increase of 112% in the guideline value.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value of Block 23 NedunSeralathan Theru is above this median.

• Block 23 New Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 23 Sathiya Moorthy Street: Rs 1,100 per sq.ft (2024)
• Block 23 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 24 Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 23 Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 22 WestMuhamadhiyarStreet (or) KalamegamStreet: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 NedunSeralathan Theru

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost for these fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 23 NedunSeralathan Theru?

The Sub Registrar Office that covers Block 23 NedunSeralathan Theru 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 23 NedunSeralathan Theru?

The current guideline value for Block 23 NedunSeralathan Theru is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 389 per sq.ft in 2003 to Rs 825 per sq.ft in 2024. Notably, there was a decrease in value from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017.

What is the registration office for this area?

The registration office for Block 23 NedunSeralathan Theru is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 at a rate of 7%.

What is the land classification for Block 23 NedunSeralathan Theru?

The land classification for Block 23 NedunSeralathan Theru is Residential Class II Type - II, indicating its designation for residential use.