Guideline Value for Block 23 SathyamangalamRoad(or) Veerapathira Road

Block 23 SathyamangalamRoad(or) Veerapathira Road guideline value

The current guideline value of Block 23 SathyamangalamRoad(or) 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 23 SathyamangalamRoad(or) Veerapathira Road has changed

The guideline value for Block 23 SathyamangalamRoad(or) Veerapathira Road has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 958 per sq.ft. This figure increased to Rs 1,073 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 1,500 per sq.ft in 2007, a 40% increase from the previous year. In 2012, the value saw a rise to Rs 2,500 per sq.ft, which was a significant 67% increase. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Throughout these revisions, there have been no figures recorded for the years not mentioned in the register. The overall change from 2002 to 2024 reflects an increase of 187% in the guideline value.

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 23 SathyamangalamRoad(or) Veerapathira Road is above this median.

• Block 24 AkilMedu Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 23 Palanimalai Street: Rs 1,100 per sq.ft (2024)
• Block 23 Muthusamy Street: Rs 2,750 per sq.ft (2024)
• Block 24 Muthusamy Street: Rs 1,100 per sq.ft (2024)
• Block 24 Nachiappa Street 1,2: Rs 2,750 per sq.ft (2024)
• Block 24 Nehru Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 SathyamangalamRoad(or) Veerapathira Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 23 SathyamangalamRoad(or) Veerapathira Road?

The Sub Registrar Office that covers Block 23 SathyamangalamRoad(or) 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 more details.

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 at which the property can be registered and is used to calculate the stamp duty and registration fees that need to be paid.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction is compliant with local regulations and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value for Block 23 SathyamangalamRoad(or) Veerapathira Road?

The current guideline value for Block 23 SathyamangalamRoad(or) 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 from Rs 958 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 187% over the years.

What is the classification of the land in Block 23 SathyamangalamRoad(or) Veerapathira Road?

The land classification for Block 23 SathyamangalamRoad(or) Veerapathira Road is Commercial Class I Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 23 SathyamangalamRoad(or) Veerapathira Road is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Block 23 SathyamangalamRoad(or) Veerapathira Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.