Guideline Value for Block 31 Thillai Nagar

Block 31 Thillai Nagar guideline value

The current guideline value of Block 31 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO, with a land classification of Mixed Type - I.

How the guideline value of Block 31 Thillai Nagar has changed

The guideline value for Block 31 Thillai Nagar has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 571 per sq.ft. It increased to Rs 640 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 750 per sq.ft in 2007, which was a 17% increase. The 2012 revision saw a substantial jump to Rs 2,300 per sq.ft, reflecting a 207% increase from the previous figure. However, in 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33% from the 2012 figure.

Continuing from there, the 2023 revision set the guideline value at Rs 2,300 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 has further increased the value to Rs 2,530 per sq.ft, representing a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 343%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, positioning Block 31 Thillai Nagar above this median.

• Block 31 Sriranga Street: Rs 1,100 per sq.ft (2024)
• Block 32 AgilMedu St: Rs 2,530 per sq.ft (2024)
• Block 31 South Easwaran Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 32 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 31 North Easwaran Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 32 East Perumal Kovil Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 31 Thillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. 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 details.

Which Sub Registrar Office covers Block 31 Thillai Nagar?

The Sub Registrar Office that covers Block 31 Thillai Nagar 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 crucial factor in the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Block 31 Thillai Nagar?

The current guideline value of Block 31 Thillai Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 571 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 343% over the years.

What is the registration office for Block 31 Thillai Nagar?

The registration office for Block 31 Thillai Nagar 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 31 Thillai Nagar?

Stamp duty for properties in Block 31 Thillai Nagar is calculated based on the higher of the guideline value or the sale price. For example, a plot with a guideline value of Rs 25,30,000 would incur a stamp duty of Rs 1,77,100 at 7%.

What are the guideline values for other streets in Ward C?

Other streets in Ward C have varying guideline values, with rates ranging from Rs 1,100 to Rs 2,750 per sq.ft. For instance, Block 31 Sriranga Street has a guideline value of Rs 1,100 per sq.ft, while Block 32 Brindha Street has a value of Rs 2,750 per sq.ft.