Guideline Value for Block 6 Chinnappalayout

Block 6 Chinnappalayout guideline value

The current guideline value for Block 6 Chinnappalayout is Rs 825 per sq.ft. This area is located in Ward A village, under the Erode Joint I SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Block 6 Chinnappalayout has changed

The guideline value for Block 6 Chinnappalayout has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 520 per sq.ft. This increased to Rs 750 per sq.ft in 2007, remained the same until 2012, and then dropped to Rs 502 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 750 per sq.ft, and in the latest revision for 2024, the value has risen to Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 59%, indicating a notable change over the years.

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, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 6 Chinnappalayout is below this median.

• Block 6 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)
• Block 5 Thirunagar Colony Road No.1,2: Rs 2,200 per sq.ft (2024)
• Block 5 Thirunagar Colony: Rs 2,200 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Pillai Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 6 Thirunagar Colony Road 1,2: Rs 2,200 per sq.ft (2024)
• Block 5 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Chinnappalayout

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 6 Chinnappalayout?

The Sub Registrar Office that covers Block 6 Chinnappalayout 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 during property transactions in Ward A, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees, which are essential for the legal transfer of property ownership.

When registering a property, the guideline value ensures that the transaction reflects a fair valuation as per the government's assessment. It is crucial for both parties to consider this value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Block 6 Chinnappalayout?

The current guideline value of Block 6 Chinnappalayout is Rs 825 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 520 per sq.ft in 2003 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 59% over the years.

What is the land classification for Block 6 Chinnappalayout?

The land classification for Block 6 Chinnappalayout is Residential Class II Type - II.

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

For a property with a guideline value of Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles the registration for Block 6 Chinnappalayout?

The Erode Joint I Sub Registrar Office handles the registration for Block 6 Chinnappalayout, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.