Guideline Value for Block 25 Varanavasi Street

Block 25 Varanavasi Street guideline value

The current guideline value for Block 25 Varanavasi Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 25 Varanavasi Street has changed

The guideline value for Block 25 Varanavasi Street has seen several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 105 per sq.ft. This figure increased significantly to Rs 399 per sq.ft in 2003, marking a substantial rise of 280%. Following this, the value rose to Rs 500 per sq.ft in 2007, an increase of 25%. The next revision in 2012 brought the value to Rs 750 per sq.ft, reflecting a 50% increase. However, there was a notable decrease in the 2017 revision, where the value fell to Rs 502 per sq.ft, a drop of 33%. The value then increased to Rs 750 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 825 per sq.ft, a rise of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 686%. There are no figures available for the revisions in the years not mentioned in the register 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, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 25 Varanavasi Street is below this median.

• Block 25 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)
• 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 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 Varanavasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. Duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 25 Varanavasi Street?

The Sub Registrar Office that covers Block 25 Varanavasi 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 more information.

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

The guideline value is an important factor when registering property transactions in Ward A. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a buyer or seller engages in a transaction, the guideline value serves as a benchmark for calculating the necessary fees, ensuring that both parties adhere to the legal requirements set by the registration authorities.

Frequently asked questions

What is the current guideline value for Block 25 Varanavasi Street?

The current guideline value for Block 25 Varanavasi Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 686% over the years.

What is the registration office for Block 25 Varanavasi Street?

The registration office for Block 25 Varanavasi Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Block 25 Varanavasi Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

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