Guideline Value for Block 27 E.V.Nanjappa Street

Block 27 E.V.Nanjappa Street guideline value

The current guideline value of Block 27 E.V.Nanjappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and falls under the Residential Class I Type - III land classification.

How the guideline value of Block 27 E.V.Nanjappa Street has changed

The guideline value for Block 27 E.V.Nanjappa Street has undergone several revisions over the years. In 2002, the guideline value was Rs 662 per sq.ft. This increased to Rs 742 per sq.ft in 2003, marking a 12% rise. The value saw a marginal increase of 1% to Rs 750 per sq.ft in 2007. However, in 2012, it was revised to Rs 1,250 per sq.ft, reflecting a significant increase of 67%. The value then decreased to Rs 837 per sq.ft in 2017, which was a 33% drop from the previous revision. The guideline value rose again to Rs 1,250 per sq.ft in 2023, followed by the current value of Rs 1,375 per sq.ft in 2024, showing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 108%. There are no figures available for the revisions in years other than those specified.

Guideline values in Ward B

Ward B consists of 170 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 27 E.V.Nanjappa Street above that median.

• Block 27 Goodshed Guts: Rs 771 per sq.ft (2024)
• Block 27 K.A.S.Anna Nagar: Rs 770 per sq.ft (2024)
• Block 26 S.K.Chenniappa Gounder Street: Rs 825 per sq.ft (2024)
• Block 26 Santhankarukku Street: Rs 771 per sq.ft (2024)
• Block 27 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)
• Block 27 Periyar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 E.V.Nanjappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total cost together to Rs 1,23,750. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Block 27 E.V.Nanjappa Street?

The Sub Registrar Office that covers Block 27 E.V.Nanjappa Street 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 B

The guideline value is a crucial factor during the registration of property transactions in Ward B. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Block 27 E.V.Nanjappa Street?

The current guideline value of Block 27 E.V.Nanjappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 662 in 2002 to Rs 1,375 in 2024, reflecting an overall increase of 108% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 27 E.V.Nanjappa Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the median guideline value in Ward B?

The median guideline value in Ward B is Rs 1,100 per sq.ft, with Block 27 E.V.Nanjappa Street's current value being above this median.