Guideline Value for Block 25 E.V.Nanjappa Main Road

Block 25 E.V.Nanjappa Main Road guideline value

The current guideline value of Block 25 E.V.Nanjappa Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO, and it is classified as Commercial Special Type - I.

How the guideline value of Block 25 E.V.Nanjappa Main Road has changed

The guideline value for Block 25 E.V.Nanjappa Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 4,020 per sq.ft. The value remained at Rs 6,000 per sq.ft until the 2023 revision, which increased it to Rs 6,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2017 revision to the 2023 revision, the value increased by 49%. Overall, the guideline value rose from Rs 6,000 per sq.ft in 2012 to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase over the 12-year period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that have a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 1,375 per sq.ft, placing Block 25 E.V.Nanjappa Main Road above this median.

• Block 25 Chinnamuthu Street Main Road 1st Part: Rs 2,750 per sq.ft (2024)
• Block 24 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 25 Varanavasi Street: Rs 825 per sq.ft (2024)
• Block 24 Chinnamuthu Street (Main Road)1st Part: Rs 1,650 per sq.ft (2024)
• Block 23 Thiru V.K.Road: Rs 1,100 per sq.ft (2024)
• Block 23 Pappathi Kadu: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 E.V.Nanjappa Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 25 E.V.Nanjappa Main Road?

The Sub Registrar Office that covers Block 25 E.V.Nanjappa Main Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

For further information, you can find your SRO.

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

The guideline value is a critical factor in property transactions within Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the costs associated with registration. Buyers should consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 25 E.V.Nanjappa Main Road?

The current guideline value for Block 25 E.V.Nanjappa Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024, a 10% increase. It was Rs 4,020 per sq.ft in 2017, and Rs 6,000 per sq.ft in 2012, showing significant changes over the years.

What is the land classification for Block 25 E.V.Nanjappa Main Road?

Block 25 E.V.Nanjappa Main Road is classified as Commercial Special Type - I.

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

The Sub Registrar Office for Block 25 E.V.Nanjappa Main 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.