Guideline Value for Block 38 Nethaji Road

Block 38 Nethaji Road guideline value

The current guideline value of Block 38 Nethaji Road is Rs 4,400 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 - I.

How the guideline value of Block 38 Nethaji Road has changed

The guideline value for Block 38 Nethaji Road has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 1,424 per sq.ft. This increased to Rs 1,595 per sq.ft in 2003, marking a 12% rise. By 2007, the value jumped to Rs 2,000 per sq.ft, an increase of 25%. The 2012 revision saw a drop to Rs 4,000 per sq.ft, reflecting a decrease of 33%. However, in 2017, the value rose significantly to Rs 2,680 per sq.ft, which was a 49% increase from the previous revision. The 2023 revision set the value at Rs 4,000 per sq.ft, and the current revision for 2024 is Rs 4,400 per sq.ft, indicating a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 209%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 38 Nethaji Road's 2024 figure above this median.

• Block 38 Muthurangam Street: Rs 3,300 per sq.ft (2024)
• Block 38 Prakasham Street: Rs 3,300 per sq.ft (2024)
• Block 38 Cutcheri Street: Rs 4,400 per sq.ft (2024)
• Block 38 Brough Road: Rs 5,500 per sq.ft (2024)
• Block 38 Annaji Street: Rs 3,300 per sq.ft (2024)
• Block 37 Sivashanmugam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 38 Nethaji Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 38 Nethaji Road?

The Sub Registrar Office that covers Block 38 Nethaji 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the government collects the appropriate taxes based on the property's value.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers and sellers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 38 Nethaji Road?

The current guideline value of Block 38 Nethaji Road 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 changed from Rs 1,424 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 209% across the revisions.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Block 38 Nethaji Road?

The Erode Joint I Sub Registrar Office handles property registrations for Block 38 Nethaji Road, 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 the land classification and market conditions in the area.