Guideline Value for Block 35 Nethaji Street Part 1

Block 35 Nethaji Street Part 1 guideline value

The current guideline value for Block 35 Nethaji Street Part 1 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ward C, under the Erode Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Block 35 Nethaji Street Part 1 has changed

The guideline value for Block 35 Nethaji Street Part 1 has undergone several revisions over the years. The earliest available figure is from 2002, where the guideline value was Rs 1,301 per sq.ft. This increased to Rs 1,457 per sq.ft in 2003, marking a 12% rise. In 2007, the value saw a significant jump to Rs 2,000 per sq.ft, which was a 37% increase from the previous year. The value then doubled to Rs 4,000 per sq.ft in 2012, reflecting a 100% increase.

From 2012 to 2017, the guideline value decreased to Rs 2,680 per sq.ft, which was a decline of 33%. However, this was followed by a substantial increase to Rs 4,000 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year. There are no figures available for revisions in years not listed in the register.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that have 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 35 Nethaji Street Part 1 above this median.

• Block 35 Easwaran Kovil Street Part: Rs 4,400 per sq.ft (2024)
• Block 35 Sokkanatha Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 35 East Anumantharayan Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 35 South Anumantharayar Kovil Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 35 Brough Road Part 1: Rs 5,500 per sq.ft (2024)
• Block 35 Thiruvenkatasamy Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 35 Nethaji Street Part 1

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 35 Nethaji Street Part 1?

The Sub Registrar Office covering Block 35 Nethaji Street Part 1 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the 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 plays a crucial role in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties, which are charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate taxes based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value for Block 35 Nethaji Street Part 1?

The current guideline value for Block 35 Nethaji Street Part 1 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase of 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Block 35 Nethaji Street Part 1?

Block 35 Nethaji Street Part 1 is classified as Commercial Class I Type - I, indicating its designation for commercial use.

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

The Sub Registrar Office for Block 35 Nethaji Street Part 1 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.