Guideline Value for Block 4 Azhakarasan Nagar

Block 4 Azhakarasan Nagar guideline value

The current guideline value for Block 4 Azhakarasan Nagar is Rs 771 per sq.ft, effective from 1 July 2024. This area falls under Ward C village, Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 4 Azhakarasan Nagar has changed

The guideline value for Block 4 Azhakarasan Nagar has seen several revisions over the years. In 2003, the value was Rs 269 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following that, the value rose to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The most significant increase occurred between 2017 and 2023, where the value jumped to Rs 700 per sq.ft, reflecting a 109% change. The latest revision in 2024 sees the guideline value set at Rs 771 per sq.ft, marking a 10% increase from the previous year.

The register has no figure for this street in 2002. Overall, from 2003 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 that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. Block 4 Azhakarasan Nagar's 2024 figure is below this median.

• Block 3 Vinayagar Kovil Street 1,2: Rs 771 per sq.ft (2024)
• Block 4 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 3 T.Krishnan St: Rs 772 per sq.ft (2024)
• Block 4 Ganapathipuram Part 1: Rs 825 per sq.ft (2024)
• Block 4 Krishnampalayam Road 1 to 3 Part 2: Rs 1,100 per sq.ft (2024)
• Block 4 Pachiyamman Kovil Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Azhakarasan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420. Together, these fees total Rs 69,390. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 4 Azhakarasan Nagar?

The Sub Registrar Office that covers Block 4 Azhakarasan Nagar 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 in the registration process when buying or selling property in Ward C. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and that the government maintains a consistent revenue stream from property sales.

Frequently asked questions

What is the current guideline value for Block 4 Azhakarasan Nagar?

The current guideline value for Block 4 Azhakarasan Nagar is Rs 771 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 269 per sq.ft in 2003 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 187% over the period.

What is the land classification for Block 4 Azhakarasan Nagar?

Block 4 Azhakarasan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Block 4 Azhakarasan Nagar is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 771 per sq.ft, the total fees would amount to Rs 69,390.