Guideline Value for Block 27 Mettur Road (or) E.V. Nanjappa Road

Block 27 Mettur Road (or) E.V. Nanjappa Road guideline value

The current guideline value for Block 27 Mettur Road (or) E.V. Nanjappa Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Block 27 Mettur Road (or) E.V. Nanjappa Road has changed

The guideline value for Block 27 Mettur Road (or) E.V. Nanjappa Road has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 430 per sq.ft. It then increased to Rs 486 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. The 2012 revision saw the value remain at Rs 1,500 per sq.ft, but it dropped to Rs 1,005 per sq.ft in 2017. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and most recently, it has risen to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 284%. The changes between revisions include a 13% increase from 2002 to 2003, a 23% increase from 2003 to 2007, a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Ward E

In Ward E, there are 196 streets that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 27 Mettur Road (or) E.V. Nanjappa Road is above this median.

• Block 27 Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Block 27 Poondhurai Road: Rs 1,100 per sq.ft (2024)
• Block 27 Railway Colony Road: Rs 771 per sq.ft (2024)
• Block 26 Sathankaruku 1 2 3: Rs 771 per sq.ft (2024)
• Block 28 Agathi Perumal Kovil Huts: Rs 771 per sq.ft (2024)
• Block 26 Poondhurai Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 Mettur Road (or) E.V. Nanjappa Road

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 27 Mettur Road (or) E.V. Nanjappa Road?

The Sub Registrar Office that covers Block 27 Mettur Road (or) E.V. Nanjappa Road 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 information.

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

The guideline value is a crucial aspect when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

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

Frequently asked questions

What is the current guideline value of Block 27 Mettur Road (or) E.V. Nanjappa Road?

The current guideline value for Block 27 Mettur Road (or) E.V. Nanjappa Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 430 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 284% over the years.

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

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Which office handles property registrations in this area?

The Erode Joint I Sub Registrar Office handles property registrations for Block 27 Mettur Road (or) E.V. Nanjappa Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the amount of stamp duty and registration fees payable during the property registration process. It ensures that the transaction is legally compliant and that the appropriate taxes are paid to the government.