Guideline Value for Block 28 Thillai Nagar

Block 28 Thillai Nagar guideline value

The current guideline value of Block 28 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under Ward C village and is classified as Mixed Type - I. The relevant registration office for this location is the Erode Joint I SRO.

How the guideline value of Block 28 Thillai Nagar has changed

Since the guideline value register began, the value for Block 28 Thillai Nagar has experienced several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 535 per sq.ft. This value increased to Rs 600 per sq.ft in 2003, marking a 12% rise. In 2007, the value saw a significant jump to Rs 750 per sq.ft, which was a 25% increase from the previous year. Following this, in 2012, the value rose to Rs 2,300 per sq.ft, resulting in a remarkable 207% increase.

However, from 2012 to 2017, the guideline value decreased to Rs 1,541 per sq.ft, reflecting a 33% decline. The value then increased again to Rs 2,300 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, marking a 10% increase from the previous year. There are no figures available for revisions between these years for this street.

Guideline values in Ward C

In Ward C, the guideline values vary across different streets, with a total of 250 streets under the Erode Joint I SRO carrying a 2024 figure ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for this area is Rs 1,375 per sq.ft, placing Block 28 Thillai Nagar's 2024 figure above this median.

• Block 28 Theppakulam Street: Rs 1,650 per sq.ft (2024)
• Block 28 Thiruvalluvar Huts: Rs 771 per sq.ft (2024)
• Block 28 Seerangan St: Rs 1,100 per sq.ft (2024)
• Block 29 Brough Road Main Road: Rs 4,400 per sq.ft (2024)
• Block 29 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 29 Kamarajar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Thillai Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 28 Thillai Nagar?

The Sub Registrar Office that covers Block 28 Thillai Nagar 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 further information.

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

When buying or selling property in Ward C, the guideline value plays a crucial role in determining the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price of the property. This ensures that the government receives appropriate revenue during property transactions.

The guideline value also serves as a benchmark for property transactions in the area, helping to standardize rates and provide transparency in the real estate market. It is essential for buyers and sellers to be aware of these values to make informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Block 28 Thillai Nagar?

The current guideline value of Block 28 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 changed several times, starting from Rs 535 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 373% over the years.

What are the stamp duty and registration fees for property in Block 28 Thillai Nagar?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office is responsible for Block 28 Thillai Nagar?

The Erode Joint I Sub Registrar Office is responsible for Block 28 Thillai Nagar, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers must pay these fees based on the higher of the guideline value or the sale price of the property.