Guideline Value for Block 30 Chennimalai Road

Block 30 Chennimalai Road guideline value

The current guideline value of Block 30 Chennimalai Road is Rs 825 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 - II.

How the guideline value of Block 30 Chennimalai Road has changed

The guideline value for Block 30 Chennimalai Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 825 per sq.ft, an increase of 10% from the 2023 revision of Rs 750 per sq.ft. Prior to that, in 2017, the value was Rs 502 per sq.ft, marking a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also recorded a value of Rs 750 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that 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, the guideline values for 170 streets under the Erode Joint I SRO range from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 30 Chennimalai Road is below this median.

• Block 30 Manal Medu: Rs 771 per sq.ft (2024)
• Block 30 Muthukumarasamy Street: Rs 1,100 per sq.ft (2024)
• Block 30 Perumal kadu: Rs 771 per sq.ft (2024)
• Block 2 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 31 Chennimalai Road: Rs 1,100 per sq.ft (2024)
• Block 31 Goodshed huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 30 Chennimalai Road

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 fees to Rs 74,250. It is important to note that 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 30 Chennimalai Road?

The Sub Registrar Office that covers Block 30 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 plays a crucial role in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Block 30 Chennimalai Road?

The current guideline value of Block 30 Chennimalai Road is Rs 825 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024, which is a 10% increase. From 2017 to 2023, it increased by 49% from Rs 502 per sq.ft to Rs 750 per sq.ft.

What is the land classification for Block 30 Chennimalai Road?

Block 30 Chennimalai Road is classified as Residential Class II Type - II, indicating its use for residential purposes.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 30 Chennimalai Road is 7%. This is applied to the higher of the guideline value or the sale price during registration.

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

The Sub Registrar Office for Block 30 Chennimalai Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.