Guideline Value for Block 36 Nethaji Road Part 1

Block 36 Nethaji Road Part 1 guideline value

The current guideline value for Block 36 Nethaji Road Part 1 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 falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 36 Nethaji Road Part 1 has changed

The guideline value for Block 36 Nethaji Road Part 1 has undergone several revisions over the years. The 2002 revision set the value at Rs 1,440 per sq.ft, which increased to Rs 1,613 per sq.ft in 2003, marking a 12% rise. In 2007, the value further increased to Rs 2,000 per sq.ft, reflecting a 24% change. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, a drop of 33%. However, the value rebounded to Rs 1,675 per sq.ft in 2017, representing a 49% increase. The most recent revisions show the value rising to Rs 2,500 per sq.ft in 2023 and then to Rs 2,750 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 91%. There are no figures available for the years not mentioned in this register for Block 36 Nethaji Road Part 1.

Guideline values in Ward C

In Ward C, the guideline values for 250 streets under the Erode Joint I SRO range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 36 Nethaji Road Part 1 is above this median.

• Block 36 Muthuranga Street: Rs 3,300 per sq.ft (2024)
• Block 36 Thiruvenkata Street: Rs 3,300 per sq.ft (2024)
• Block 36 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 37 Annaji Street: Rs 3,300 per sq.ft (2024)
• Block 36 East Anumantharayan St: Rs 2,750 per sq.ft (2024)
• Block 37 Cutcheri Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Block 36 Nethaji Road Part 1

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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. Together, the total fees would amount to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 36 Nethaji Road Part 1?

The Sub Registrar Office that covers Block 36 Nethaji Road Part 1 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 critical factor in the registration process of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which properties 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 in assessing the fair value of the property. Buyers and sellers must consider this value, as it influences the financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Block 36 Nethaji Road Part 1?

The current guideline value of Block 36 Nethaji Road Part 1 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 1,440 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 91% over the years.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for this property?

The registration for Block 36 Nethaji Road Part 1 is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It serves as a reference point for property transactions in the area.