Guideline Value for Block 24 Sathyamangalam (or) Veerapathira Road

Block 24 Sathyamangalam (or) Veerapathira Road guideline value

The current guideline value for Block 24 Sathyamangalam (or) Veerapathira Road is Rs 4,400 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 - I.

How the guideline value of Block 24 Sathyamangalam (or) Veerapathira Road has changed

The guideline value for Block 24 Sathyamangalam (or) Veerapathira Road has seen several revisions over the years. In 2002, the value was Rs 1,201 per sq.ft. It increased to Rs 1,345 per sq.ft in 2003, followed by a rise to Rs 1,500 per sq.ft in 2007. The value then saw a significant jump to Rs 4,000 per sq.ft in 2012, but dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 4,400 per sq.ft.

Between these revisions, the guideline value changed as follows: from 2002 to 2003, it increased by 12%; from 2003 to 2007, it rose by another 12%; then a substantial increase of 167% from 2007 to 2012. The value saw a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. Finally, the value increased by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 266%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, making the current value for Block 24 Sathyamangalam (or) Veerapathira Road above this median.

• Block 25 Akilmedu Street: Rs 2,750 per sq.ft (2024)
• Block 24 New Sandhai Road: Rs 2,750 per sq.ft (2024)
• Block 24 Nehru Street: Rs 2,750 per sq.ft (2024)
• Block 24 Nachiappa Street 1,2: Rs 2,750 per sq.ft (2024)
• Block 24 Muthusamy Street: Rs 1,100 per sq.ft (2024)
• Block 25 Kannaki Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Sathyamangalam (or) Veerapathira Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Block 24 Sathyamangalam (or) Veerapathira Road?

The Sub Registrar Office that covers Block 24 Sathyamangalam (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 online.

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

The guideline value plays a crucial role during the registration of property transactions in Ward C. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the registration department and reflects the minimum value at which properties in a specific area can be registered.

When a buyer or seller engages in a property transaction, they must consider the guideline value to ensure compliance with legal requirements. The payment of stamp duty and registration fees is based on this value, ensuring that the transaction is officially recorded and recognized by the authorities.

Frequently asked questions

What is the current guideline value for Block 24 Sathyamangalam (or) Veerapathira Road?

The current guideline value for Block 24 Sathyamangalam (or) Veerapathira Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,201 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 266% over this period.

What is the registration office for this area?

The registration office covering Block 24 Sathyamangalam (or) Veerapathira Road 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 of the property. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.

What is the land classification for Block 24 Sathyamangalam (or) Veerapathira Road?

The land classification for Block 24 Sathyamangalam (or) Veerapathira Road is Commercial Class I Type - I, indicating its use for commercial purposes.