Guideline Value for Block 6 Chenniappa Street (or) Chinnappa Street

Block 6 Chenniappa Street (or) Chinnappa Street guideline value

The current guideline value for Block 6 Chenniappa Street (or) Chinnappa Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 6 Chenniappa Street (or) Chinnappa Street has changed

The guideline value for Block 6 Chenniappa Street (or) Chinnappa Street has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 238 per sq.ft. This increased to Rs 300 per sq.ft in both the 2003 and 2007 revisions. The 2012 revision saw a decrease to Rs 500 per sq.ft, followed by a significant jump to Rs 335 per sq.ft in the 2017 revision. The 2023 revision marked a notable increase to Rs 700 per sq.ft, culminating in the current value of Rs 771 per sq.ft as of the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 224%.

Between the revisions, there have been various changes. The most significant increase was from 2017 to 2023, which saw a rise of 109%. The value decreased by 33% from 2012 to 2017, while the increase from 2007 to 2012 was 67%. The values from 2003 to 2007 remained unchanged, and the increase from 2002 to 2003 was 26%.

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. The guideline value for Block 6 Chenniappa Street (or) Chinnappa Street is below this median.

• Block 6 Bramin Extension Poongundranar Street: Rs 825 per sq.ft (2024)
• Block 6 Chinnappan Lay Out: Rs 825 per sq.ft (2024)
• Block 6 Jayagopal Street: Rs 825 per sq.ft (2024)
• Block 5 Post Office Road: Rs 825 per sq.ft (2024)
• Block 5 Poongundranar Street (or) Bramin Extension: Rs 825 per sq.ft (2024)
• Block 6 Kannaian Street 1,2,3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Chenniappa Street (or) Chinnappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Block 6 Chenniappa Street (or) Chinnappa Street?

The Sub Registrar Office that covers Block 6 Chenniappa Street (or) Chinnappa 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 C

The guideline value plays a crucial role during the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Block 6 Chenniappa Street (or) Chinnappa Street?

The current guideline value for Block 6 Chenniappa Street (or) Chinnappa 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 undergone several revisions, with the most recent increase from Rs 700 per sq.ft in 2023 to Rs 771 per sq.ft in 2024. Overall, it has increased by 224% from Rs 238 per sq.ft in 2002 to the current value.

What is the registration fee for property in Block 6 Chenniappa Street (or) Chinnappa Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 7,71,000, the registration fee would be Rs 15,420.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Block 6 Chenniappa Street (or) Chinnappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Ward C?

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