Guideline Value for Block 3 Chenniyappa Street

Block 3 Chenniyappa Street guideline value

The current guideline value of Block 3 Chenniyappa Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 3 Chenniyappa Street has changed

The guideline value for Block 3 Chenniyappa Street has seen several revisions over the years. In 2002, the value was Rs 239 per sq.ft, which increased to Rs 268 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 300 per sq.ft in 2007, a further increase of 12%. By 2012, the value had increased to Rs 500 per sq.ft, reflecting a 67% growth. However, the value dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 saw a significant increase to Rs 700 per sq.ft, which was a 109% rise. Finally, the current value stands at Rs 771 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 223%. It is important to note that there are no figures available for the revisions of years not listed in the register for this street.

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 of Block 3 Chenniyappa Street is below this median.

• Block 3 Chinnappa Lay out: Rs 771 per sq.ft (2024)
• Block 3 Chokkai Thottam St: Rs 771 per sq.ft (2024)
• Block 38 Prakasham Street: Rs 3,300 per sq.ft (2024)
• Block 38 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 3 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 38 Muthurangam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Chenniyappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, resulting in a total of Rs 69,390. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 3 Chenniyappa Street?

The Sub Registrar Office that covers Block 3 Chenniyappa Street 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ward C. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is based on various factors, including location and land classification.

When a buyer or seller approaches the registration office, the guideline value is referred to for calculating the applicable fees. This ensures that the transaction is recorded accurately and in compliance with the regulations set forth by the government.

Frequently asked questions

What is the current guideline value of Block 3 Chenniyappa Street?

The current guideline value of Block 3 Chenniyappa Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 239 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, marking an overall increase of 223% over the years.

What is the classification of land for Block 3 Chenniyappa Street?

Block 3 Chenniyappa Street is classified as Residential Class III Type - I according to the local land classification.

What are the other streets in Ward C with similar guideline values?

Other streets in Ward C with similar guideline values include Block 3 Chinnappa Lay out and Block 3 Chokkai Thottam St, both at Rs 771 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Block 3 Chenniyappa Street?

The Sub Registrar Office for Block 3 Chenniyappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.