Guideline Value for Block 4 Chinnappa Layout 1 & 2

Block 4 Chinnappa Layout 1 & 2 guideline value

The current guideline value for Block 4 Chinnappa Layout 1 & 2 is Rs 770 per sq.ft. This property is located in Ward A village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 4 Chinnappa Layout 1 & 2 has changed

The guideline value for Block 4 Chinnappa Layout 1 & 2 has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 105 per sq.ft. This increased to Rs 188 per sq.ft in 2003, marking a rise of 79%. The value continued to grow, reaching Rs 250 per sq.ft in 2007, an increase of 33%. In 2012, the value was revised to Rs 500 per sq.ft, which was a significant increase of 100% from the previous revision. However, the value saw a decrease to Rs 335 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then surged to Rs 700 per sq.ft in 2023, a remarkable increase of 109%, and is currently set at Rs 770 per sq.ft effective from July 1, 2024, which is a 10% rise from the previous year.

There are no figures for the years not mentioned in the register for this street. The overall change from 2002 to 2024 shows an increase of 633% in the guideline value.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, indicating that Block 4 Chinnappa Layout 1 & 2's current figure is below that median.

• Block 4 Krishnampalayam Road 1,2.3: Rs 1,375 per sq.ft (2024)
• Block 4 Madhavakadu: Rs 771 per sq.ft (2024)
• Block 3 Thirunagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 Samiyappa Street Main Road: Rs 1,100 per sq.ft (2024)
• Block 4 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 3 Pudhumai Colony: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Chinnappa Layout 1 & 2

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 4 Chinnappa Layout 1 & 2?

The Sub Registrar Office that covers Block 4 Chinnappa Layout 1 & 2 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 A

The guideline value is a critical factor when registering a property in Ward A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process. Buyers and sellers should be aware that the guideline value is used to calculate the applicable fees, ensuring compliance with local regulations.

When a property is sold, the guideline value is often referenced to ascertain the minimum value at which the property can be registered. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value for Block 4 Chinnappa Layout 1 & 2?

The current guideline value for Block 4 Chinnappa Layout 1 & 2 is Rs 770 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What is the registration office for Block 4 Chinnappa Layout 1 & 2?

The registration office for Block 4 Chinnappa Layout 1 & 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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

For a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300.

Where can I find more information about the guideline values in Ward A?

More information about the guideline values in Ward A can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets in the area.