Guideline Value for Block 24 E.V.Nanjappa Street

Block 24 E.V.Nanjappa Street guideline value

The current guideline value of Block 24 E.V.Nanjappa Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 24 E.V.Nanjappa Street has changed

The guideline value for Block 24 E.V.Nanjappa Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Ward B

In Ward B, there are 170 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 for these streets is Rs 1,100 per sq.ft, which is equal to the 2024 figure for Block 24 E.V.Nanjappa Street.

• Block 24 Giramadai: Rs 770 per sq.ft (2024)
• Block 23 ThanaKodi Lay Out: Rs 771 per sq.ft (2024)
• Block 24 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 23 S.K.C.Road T.S.59: Rs 1,100 per sq.ft (2024)
• Block 23 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 24 Rajarathinam St: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 E.V.Nanjappa Street

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. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 24 E.V.Nanjappa Street?

The Sub Registrar Office that covers Block 24 E.V.Nanjappa Street 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 B

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 24 E.V.Nanjappa Street?

The current guideline value of Block 24 E.V.Nanjappa Street 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

What is the land classification for Block 24 E.V.Nanjappa Street?

Block 24 E.V.Nanjappa Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Block 24 E.V.Nanjappa Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, under the Erode Joint I SRO.

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 of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7% and a registration fee of Rs 22,000 at 2%.