Guideline Value for Block 3 Chinnappa Lay out

Block 3 Chinnappa Lay out guideline value

The current guideline value for Block 3 Chinnappa Lay out is Rs 771 per sq.ft, effective from 1 July 2024. This property 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 Chinnappa Lay out has changed

The guideline value for Block 3 Chinnappa Lay out has undergone several revisions over the years. The earliest available figure is from 2002, when the guideline value was Rs 240 per sq.ft. This value increased to Rs 269 per sq.ft in 2003, marking a 12% rise. In 2007, the value further increased to Rs 300 per sq.ft, reflecting a 12% change. The following revision in 2012 saw a decrease to Rs 500 per sq.ft, a drop of 33%. The value then rose to Rs 335 per sq.ft in 2017, which was an increase of 109%. The most recent revision in 2023 set the value at Rs 700 per sq.ft, before the current figure of Rs 771 per sq.ft was established in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 221%. There are no figures available for revisions in 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, with 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing the guideline value for Block 3 Chinnappa Lay out below this median.

• Block 3 Chenniyappa Street: Rs 771 per sq.ft (2024)
• Block 3 Chokkai Thottam St: Rs 771 per sq.ft (2024)
• Block 3 Ganapathipuram: Rs 825 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 38 Muthurangam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Chinnappa Lay out

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, bringing the total fees to Rs 69,390. 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 3 Chinnappa Lay out?

The Sub Registrar Office that covers Block 3 Chinnappa Lay out 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 critical factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value for Block 3 Chinnappa Lay out?

The current guideline value for Block 3 Chinnappa Lay out 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 from Rs 240 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 221% over the years.

What is the classification of Block 3 Chinnappa Lay out?

Block 3 Chinnappa Lay out is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Block 3 Chinnappa Lay out is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in Block 3 Chinnappa Lay out?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,71,000, the stamp duty at 7% would amount to Rs 53,970.