Guideline Value for Block 29 Chennimalai Road

Block 29 Chennimalai Road guideline value

The current guideline value of Block 29 Chennimalai Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 29 Chennimalai Road has changed

Since the 2012 revision, the guideline value for Block 29 Chennimalai Road has seen several changes. In 2012, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, representing a 49% rise. The current revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value for Block 29 Chennimalai Road.

• Block 29 Manal Medu: Rs 771 per sq.ft (2024)
• Block 29 Muthukumarasamy Street: Rs 1,100 per sq.ft (2024)
• Block 29 Perumal kadu: Rs 771 per sq.ft (2024)
• Block 28 Santhankarukku: Rs 771 per sq.ft (2024)
• Block 28 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 28 Manal medu Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 29 Chennimalai Road

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 29 Chennimalai Road?

The Sub Registrar Office that covers Block 29 Chennimalai 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 B

The guideline value is a crucial factor during the registration of property transactions in Ward B. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the state government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, which helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value for Block 29 Chennimalai Road?

The current guideline value for Block 29 Chennimalai Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for Block 29 Chennimalai Road?

Block 29 Chennimalai Road is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 29 Chennimalai Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.