Guideline Value for Block 33 Sathy (or) Veerapathira Road

Block 33 Sathy (or) Veerapathira Road guideline value

The current guideline value for Block 33 Sathy (or) Veerapathira Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property 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 33 Sathy (or) Veerapathira Road has changed

The guideline value for Block 33 Sathy (or) Veerapathira Road has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 958 per sq.ft. It increased to Rs 1,073 per sq.ft in 2003, followed by a rise to Rs 1,500 per sq.ft in 2007. The value then jumped to Rs 2,500 per sq.ft in 2012, but saw a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,750 per sq.ft.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it increased by 67% from 2007 to 2012. From 2003 to 2007, the increase was 40%, and from 2002 to 2003, it was 12%. Overall, from 2002 to 2024, the guideline value has increased by 187%.

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 value for these streets is Rs 1,375 per sq.ft, placing Block 33 Sathy (or) Veerapathira Road above this median.

• Block 33 Ramasamy Street: Rs 1,100 per sq.ft (2024)
• Block 33 Sengoda Street Lane: Rs 1,100 per sq.ft (2024)
• Block 33 N.M.S. Lay out: Rs 2,200 per sq.ft (2024)
• Block 33 Sokkanatha Street: Rs 2,750 per sq.ft (2024)
• Block 33 N.M.S. Compound: Rs 2,200 per sq.ft (2024)
• Block 33 Venkatachalam Street Main Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 33 Sathy (or) Veerapathira Road

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please 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 33 Sathy (or) Veerapathira Road?

The Sub Registrar Office that covers Block 33 Sathy (or) Veerapathira 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 details.

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

The guideline value is an important factor when registering 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 government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers and sellers to be aware of the current guideline value to ensure that the transaction is conducted fairly and legally.

Frequently asked questions

What is the current guideline value for Block 33 Sathy (or) Veerapathira Road?

The current guideline value for Block 33 Sathy (or) Veerapathira Road 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 from Rs 958 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 187% over this period.

What is the classification of the land in Block 33 Sathy (or) Veerapathira Road?

The land classification for Block 33 Sathy (or) Veerapathira Road is Commercial Class I Type - III.

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

The Sub Registrar Office for Block 33 Sathy (or) Veerapathira Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.