Guideline Value for Block 24 Nachiappa Street 1,2

Block 24 Nachiappa Street 1,2 guideline value

The current guideline value of Block 24 Nachiappa Street 1,2 is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward C of Erode Joint I SRO and falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 24 Nachiappa Street 1,2 has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 719 per sq.ft, and it increased to Rs 806 per sq.ft in 2003, marking a 12% increase. The value then rose to Rs 1,000 per sq.ft in 2007, which was a 24% increase. Following this, there was a substantial jump to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,750 per sq.ft, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 282%. The register does not have figures for the years between these revisions for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value is Rs 1,375 per sq.ft, and the guideline value for Block 24 Nachiappa Street 1,2 is above this median.

• Block 24 Muthusamy Street: Rs 1,100 per sq.ft (2024)
• Block 24 Nehru Street: Rs 2,750 per sq.ft (2024)
• Block 24 New Sandhai Road: Rs 2,750 per sq.ft (2024)
• Block 24 Sathyamangalam (or) Veerapathira Road: Rs 4,400 per sq.ft (2024)
• Block 25 Akilmedu Street: Rs 2,750 per sq.ft (2024)
• Block 24 AkilMedu Street Part 1: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Nachiappa Street 1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Block 24 Nachiappa Street 1,2?

The Sub Registrar Office that covers Block 24 Nachiappa Street 1,2 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 details.

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

The guideline value is a crucial factor when registering property in Ward C. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are conducted transparently and fairly according to the established values.

Frequently asked questions

What is the current guideline value of Block 24 Nachiappa Street 1,2?

The current guideline value of Block 24 Nachiappa Street 1,2 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 significantly from Rs 719 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 282% over the years.

What is the registration office for this property?

The registration office for Block 24 Nachiappa Street 1,2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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 27,50,000, the stamp duty at 7% would be Rs 1,92,500.

What is the land classification of Block 24 Nachiappa Street 1,2?

Block 24 Nachiappa Street 1,2 falls under the Commercial Class I Type - III land classification.