Guideline Value for Block 5 Nethaji Street

Block 5 Nethaji Street guideline value

The current guideline value of Block 5 Nethaji Street is Rs 1,925 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Block 5 Nethaji Street has changed

The guideline value for Block 5 Nethaji Street has undergone several revisions over the years. The register shows a value of Rs 699 per sq.ft in 2002, which increased to Rs 790 per sq.ft in 2003. Following that, the value rose to Rs 900 per sq.ft in 2007, then significantly increased to Rs 1,750 per sq.ft in 2012. However, it dropped to Rs 1,172 per sq.ft in 2017, before rising again to Rs 1,750 per sq.ft in 2023. The current figure of Rs 1,925 per sq.ft reflects a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2002 to 2003, the value increased by 13%; from 2003 to 2007, it increased by 14%; from 2007 to 2012, it rose by 94%; but then dropped by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, culminating in the latest increase of 10% to reach the current guideline value.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 5 Nethaji Street is above this median.

• Block 5 Kristhuvar Kovil Street (Poombuhar Street): Rs 771 per sq.ft (2024)
• Block 5 New Street: Rs 825 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Maraimalaiadigal Street): Rs 771 per sq.ft (2024)
• Block 5 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 5 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 5 Cutcheri Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, making the total cost for these fees Rs 1,73,250. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Block 5 Nethaji Street?

The Sub Registrar Office that covers Block 5 Nethaji Street 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 E

The guideline value is a crucial factor when buying or selling property in Ward E, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When registering a property, the guideline value serves as a benchmark for the transaction. It is essential for both parties to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Block 5 Nethaji Street?

The current guideline value of Block 5 Nethaji Street is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 1,925 per sq.ft in 2024, reflecting a total increase of 175% over the years.

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

For a property valued at Rs 19,25,000, the stamp duty would be Rs 1,34,750, and the registration fee would be Rs 38,500, totaling Rs 1,73,250.

Which office handles the registration for Block 5 Nethaji Street?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 5 Nethaji Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including location and land classification. It is set by the local authorities and is updated periodically to reflect changes in the real estate market.