Guideline Value for Block 30 Nethaji Road

Block 30 Nethaji Road guideline value

The current guideline value of Block 30 Nethaji Road is Rs 771 per sq.ft. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 30 Nethaji Road has changed

The guideline value for Block 30 Nethaji Road has seen several revisions over the years. In 2002, the value was Rs 323 per sq.ft, which increased to Rs 365 per sq.ft in 2003. Following this, the value rose to Rs 400 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The value then increased significantly to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 771 per sq.ft.

Between the revisions, notable changes include a 13% increase from 2002 to 2003, a 10% rise from 2003 to 2007, a 25% increase from 2007 to 2012, and a significant 109% increase from 2017 to 2023. The change from 2023 to 2024 was an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 139%.

Guideline values in Ward E

In Ward E, there are 196 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 825 per sq.ft, indicating that Block 30 Nethaji Road's current value is below this median.

• Block 30 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 30 Karur Road: Rs 771 per sq.ft (2024)
• Block 2 S.K. Chenniappa Gounder Road: Rs 1,650 per sq.ft (2024)
• Block 2 Muthusamy Gounder Street (Athiyaman Street): Rs 825 per sq.ft (2024)
• Block 2 Muthusamy Gounder Lane: Rs 825 per sq.ft (2024)
• Block 2 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)

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

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 to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 30 Nethaji Road?

The Sub Registrar Office that covers Block 30 Nethaji 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is checked to ensure that the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of Block 30 Nethaji Road is Rs 771 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 323 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, with several revisions in between.

What is the stamp duty rate for property in Block 30 Nethaji Road?

The stamp duty rate for property in Block 30 Nethaji Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 30 Nethaji Road located?

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

What is the land classification for Block 30 Nethaji Road?

Block 30 Nethaji Road is classified as Residential Class III Type - I according to the current regulations.