Guideline Value for Block 32 Sathy (or) Veerapathira Street

Block 32 Sathy (or) Veerapathira Street guideline value

The current guideline value of Block 32 Sathy (or) Veerapathira Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 32 Sathy (or) Veerapathira Street has changed

The guideline value for Block 32 Sathy (or) Veerapathira Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 958 per sq.ft. This value increased to Rs 1,073 per sq.ft in 2003, marking a change of +12%. The value then rose by +16% to Rs 1,250 per sq.ft in 2007. A significant increase of +100% occurred between 2007 and 2012, bringing the value to Rs 2,500 per sq.ft. However, there was a decrease of -33% from 2012 to 2017, resulting in a guideline value of Rs 1,675 per sq.ft. The value saw a substantial increase of +49% from 2017 to 2023, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value is Rs 1,375 per sq.ft, placing Block 32 Sathy (or) Veerapathira Street above this median.

• Block 32 North Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 32 South Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 32 West Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 33 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 33 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 33 Easwaran Kovil Street Lane: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 32 Sathy (or) Veerapathira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 32 Sathy (or) Veerapathira Street?

The Sub Registrar Office that covers Block 32 Sathy (or) Veerapathira 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 more details.

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

The guideline value is a crucial factor during property registration in Ward C. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable charges. This ensures that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Block 32 Sathy (or) Veerapathira Street?

The current guideline value of Block 32 Sathy (or) Veerapathira Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 958 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, with various increases and one decrease noted in the revisions.

What is the classification of land for Block 32 Sathy (or) Veerapathira Street?

The land classification for Block 32 Sathy (or) Veerapathira Street is Commercial Class I Type - III.

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

The Sub Registrar Office for Block 32 Sathy (or) Veerapathira Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in Ward C?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the registration fees reflect the true value of the transaction.