Guideline Value for Block 32 E.V.Nanjappa Street

Block 32 E.V.Nanjappa Street guideline value

The current guideline value of Block 32 E.V.Nanjappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Block 32 E.V.Nanjappa Street has changed

The guideline value for Block 32 E.V.Nanjappa Street has seen several revisions over the years. In 2002, the guideline value was Rs 420 per sq.ft, which increased to Rs 471 per sq.ft in 2003, marking a 12% increase. The value then rose significantly to Rs 750 per sq.ft in 2007, reflecting a 59% increase. In 2012, the guideline value was Rs 1,250 per sq.ft, showing a substantial 67% increase from the previous revision. However, this figure dropped to Rs 837 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 1,250 per sq.ft in 2023, followed by a rise to the current value of Rs 1,375 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 227%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 32 E.V.Nanjappa Street's 2024 figure above that median.

• Block 32 Goodshed Opp.Huts: Rs 770 per sq.ft (2024)
• Block 32 Manal Medu: Rs 771 per sq.ft (2024)
• Block 32 Chennimalai Road: Rs 1,100 per sq.ft (2024)
• Block 32 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)
• Block 31 Perumal Kadu: Rs 771 per sq.ft (2024)
• Block 31 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 32 E.V.Nanjappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500. Together, the total cost for stamp duty and registration would be Rs 1,23,750. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Block 32 E.V.Nanjappa Street?

The Sub Registrar Office that covers Block 32 E.V.Nanjappa Street 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 B

The guideline value is a critical factor during property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When registering a property, the guideline value is referenced to determine the amount of duty payable. It is essential to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 32 E.V.Nanjappa Street?

The current guideline value of Block 32 E.V.Nanjappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 420 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 227% over the years.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 13,75,000. The stamp duty would be Rs 96,250, and the registration fee would be Rs 27,500, totaling Rs 1,23,750.

Which Sub Registrar Office covers this street?

The Erode Joint I Sub Registrar Office covers Block 32 E.V.Nanjappa Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure accurate calculations of costs involved in the registration process.