Guideline Value for Block 27 Thillai Nagar

Block 27 Thillai Nagar guideline value

The current guideline value for Block 27 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO, and the land classification is Mixed Type - I.

How the guideline value of Block 27 Thillai Nagar has changed

The guideline value for Block 27 Thillai Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 535 per sq.ft. This figure increased to Rs 600 per sq.ft in 2003, marking a 12% rise. The value then saw a further increase to Rs 750 per sq.ft in 2007, which was a 25% increase from the previous year. In 2012, the value was Rs 2,300 per sq.ft, reflecting a significant increase of 207% from 2007. However, the value dropped to Rs 1,541 per sq.ft in 2017, indicating a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 2,300 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 373%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 27 Thillai Nagar is above this median.

• Block 28 Bharathiar Street: Rs 1,100 per sq.ft (2024)
• Block 28 Brough Road Main Road Part 1: Rs 4,400 per sq.ft (2024)
• Block 27 Municipal Street 1 to 2: Rs 1,375 per sq.ft (2024)
• Block 28 Edaiyan Thottam: Rs 1,375 per sq.ft (2024)
• Block 27 Kasiannan Street: Rs 1,100 per sq.ft (2024)
• Block 27 Edaiyan Thottam Vasuki Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 Thillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total cost for these fees Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 27 Thillai Nagar?

The Sub Registrar Office covering Block 27 Thillai Nagar 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 C

The guideline value is a crucial factor in property transactions in Ward C. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. This value is determined by the Registration Department and is subject to periodic revisions based on various factors.

Frequently asked questions

What is the current guideline value for Block 27 Thillai Nagar?

The current guideline value for Block 27 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 535 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 373% over this period.

What are the stamp duty and registration fees for a property in Block 27 Thillai Nagar?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles property registrations for Block 27 Thillai Nagar?

The Erode Joint I Sub Registrar Office is responsible for property registrations in Block 27 Thillai Nagar, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 27 Thillai Nagar?

The land classification for Block 27 Thillai Nagar is Mixed Type - I, which indicates the type of land use permitted in this area.