Guideline Value for Block 3 Chinnappa Layout 1 2

Block 3 Chinnappa Layout 1 2 guideline value

The current guideline value for Block 3 Chinnappa Layout 1 2 is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 3 Chinnappa Layout 1 2 has changed

The guideline value for Block 3 Chinnappa Layout 1 2 has seen several revisions over the years. Starting from 2002, the guideline value was Rs 105 per sq.ft, which increased to Rs 161 per sq.ft in 2003. The value saw a significant rise to Rs 500 per sq.ft in 2007, followed by an increase to Rs 750 per sq.ft in 2012. However, it dropped to Rs 502 per sq.ft in 2017. The value then rose again to Rs 750 per sq.ft in 2023 and finally reached Rs 825 per sq.ft in the 2024 revision.

Between the revisions, the most notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 50% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects a substantial increase of 686%.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 3 Chinnappa Layout 1 2 is below this median.

• Block 3 Chinnappa Layout Huts: Rs 770 per sq.ft (2024)
• Block 3 Arumuga Street T.S.50: Rs 771 per sq.ft (2024)
• Block 3 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 3 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 3 Samiyappa Street Main Road: Rs 1,100 per sq.ft (2024)
• Block 3 Thirunagar Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Chinnappa Layout 1 2

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost for these fees to Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 3 Chinnappa Layout 1 2?

The Sub Registrar Office that covers Block 3 Chinnappa Layout 1 2 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 A

The guideline value plays a crucial role in the registration process of property transactions in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for Block 3 Chinnappa Layout 1 2?

The current guideline value for Block 3 Chinnappa Layout 1 2 is Rs 825 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 105 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 686% over the years.

What is the registration office for Block 3 Chinnappa Layout 1 2?

The registration office for Block 3 Chinnappa Layout 1 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 at a rate of 7%.

What are the other streets in Ward A with their guideline values?

Other streets in Ward A have varying guideline values, with rates ranging from Rs 770 to Rs 2,200 per sq.ft. For instance, Block 3 Chinnappa Layout Huts has a guideline value of Rs 770 per sq.ft.