Guideline Value for Block 24 Nehru Street

Block 24 Nehru Street guideline value

The current guideline value of Block 24 Nehru Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Block 24 Nehru Street has changed

The guideline value for Block 24 Nehru Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 810 per sq.ft. This increased to Rs 908 per sq.ft in 2003, marking a 12% rise. The value then saw a modest increase of 10% to Rs 1,000 per sq.ft in 2007. Following this, the value surged by 150% to reach Rs 2,500 per sq.ft in 2012. However, there was a significant drop of 33% in 2017, bringing the value down to Rs 1,675 per sq.ft. The value then increased by 49% to Rs 2,500 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 2,750 per sq.ft in 2024.

There are no recorded figures for the years between the revisions mentioned above. The overall change from 2002 to 2024 reflects an increase of 240% in the guideline value.

Guideline values in Ward C

In Ward C, the guideline values range 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 24 Nehru Street is significantly above this median.

• Block 24 Nachiappa Street 1,2: Rs 2,750 per sq.ft (2024)
• Block 24 New Sandhai Road: Rs 2,750 per sq.ft (2024)
• Block 24 Muthusamy Street: Rs 1,100 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 Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 24 Nehru Street?

The Erode Joint I Sub Registrar Office covers Block 24 Nehru Street. The office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

To find your SRO, visit find your SRO.

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 transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are essential for completing the transaction legally. This ensures that both parties are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Block 24 Nehru Street?

The current guideline value of Block 24 Nehru Street 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, increasing from Rs 810 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 240%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Block 24 Nehru Street?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 24 Nehru Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 24 Nehru Street?

Block 24 Nehru Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.