Guideline Value for Block 5 Veerappa Street

Block 5 Veerappa Street guideline value

The current guideline value of Block 5 Veerappa Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Block 5 Veerappa Street has changed

The guideline value for Block 5 Veerappa Street has undergone several revisions over the years. In 2002, the guideline value was Rs 139 per sq.ft. This increased to Rs 156 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 250 per sq.ft in 2007, reflecting a +60% increase. Following that, in 2012, the value was revised to Rs 600 per sq.ft, which was a substantial increase of +140%. However, from 2017 to 2023, the value saw a sharp rise to Rs 700 per sq.ft, representing a +74% change. The most recent revision in 2024 set the value at Rs 771 per sq.ft, indicating a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +455%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft. The guideline value for Block 5 Veerappa Street is below this median.

• Block 6 Cauvery Main Road: Rs 1,925 per sq.ft (2024)
• Block 5 Sengutuvan Lane: Rs 770 per sq.ft (2024)
• Block 6 Chinna Mariamman Koil Street: Rs 771 per sq.ft (2024)
• Block 5 Ponnusamy Street: Rs 770 per sq.ft (2024)
• Block 5 North Chinna Mariamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 6 Kamatchiamman Kovil Lane: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value is Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total fees Rs 69,390. 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 5 Veerappa Street?

The Sub Registrar Office that covers Block 5 Veerappa Street 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 D

The guideline value is a crucial factor in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Block 5 Veerappa Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 139 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of +455%.

What is the land classification for Block 5 Veerappa Street?

The land classification for Block 5 Veerappa Street is Residential Class II Type - III.

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

The Sub Registrar Office for Block 5 Veerappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in Ward D?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 7,71,000 would incur a stamp duty of Rs 53,970 at a rate of 7%.