Guideline Value for Block 3 E V N Road

Block 3 E V N Road guideline value

The current guideline value of Block 3 E V N Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO and is classified as Commercial Class I Type - II.

How the guideline value of Block 3 E V N Road has changed

The guideline value for Block 3 E V N Road has seen several revisions over the years. In 2003, the value was Rs 1,250 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007. Following this, the value doubled to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 164%. Notably, there is no figure available for the year 2002 for this street.

Guideline values in Ward B

Within Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Block 3 E V N Road's 2024 figure above this median.

• Block 3 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 3 Muthukaruppa Street: Rs 1,650 per sq.ft (2024)
• Block 3 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 3 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 3 Ramasamy Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 E V N Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 3 E V N Road?

The Erode Joint I Sub Registrar Office covers Block 3 E V N Road. The office is 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 when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration of the property.

Frequently asked questions

What is the current guideline value for Block 3 E V N Road?

The current guideline value for Block 3 E V N Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 164% over this period.

What is the registration office for Block 3 E V N Road?

The registration office for Block 3 E V N 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 Block 3 E V N Road?

Stamp duty for properties in Block 3 E V N Road is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.

What is the land classification for Block 3 E V N Road?

Block 3 E V N Road is classified as Commercial Class I Type - II, which influences its guideline value and potential uses.