Guideline Value for Block 6 Chinnappan Lay Out

Block 6 Chinnappan Lay Out guideline value

The current guideline value of Block 6 Chinnappan Lay Out is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 6 Chinnappan Lay Out has changed

Over the years, the guideline value for Block 6 Chinnappan Lay Out has seen several revisions. The earliest recorded figure is from 2003, where the value was Rs 434 per sq.ft. This increased to Rs 500 per sq.ft in 2007, then rose to Rs 750 per sq.ft in 2012. However, it decreased to Rs 502 per sq.ft in 2017, before climbing to Rs 750 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 15%, followed by a significant 50% jump from 2007 to 2012. However, the value saw a decline of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, culminating in an overall increase of 90% from 2003 to 2024.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with 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 Chinnappan Lay Out is below this median.

• Block 6 Chenniappa Street (or) Chinnappa Street: Rs 771 per sq.ft (2024)
• Block 6 Jayagopal Street: Rs 825 per sq.ft (2024)
• Block 6 Bramin Extension Poongundranar Street: Rs 825 per sq.ft (2024)
• Block 6 Kannaian Street 1,2,3: Rs 1,100 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Road: Rs 1,100 per sq.ft (2024)
• Block 6 Krishnampalayam Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Chinnappan Lay Out

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. 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 details.

Which Sub Registrar Office covers Block 6 Chinnappan Lay Out?

The Sub Registrar Office that covers Block 6 Chinnappan Lay Out 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 is a crucial factor when buying or selling property in Ward C. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the government’s records.

When a buyer purchases property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both the buyer and seller comply with the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Block 6 Chinnappan Lay Out?

The current guideline value of Block 6 Chinnappan Lay Out is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 434 per sq.ft in 2003 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 90% over this period.

What are the stamp duty rates for property in Block 6 Chinnappan Lay Out?

The stamp duty for property in Block 6 Chinnappan Lay Out is charged at 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for property transactions?

The registration fee for property transactions in Block 6 Chinnappan Lay Out is 2% of the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Erode Joint I Sub Registrar Office located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.