Guideline Value for Block 6 Nadu Street

Block 6 Nadu Street guideline value

The current guideline value of Block 6 Nadu Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E 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 Nadu Street has changed

The guideline value for Block 6 Nadu Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 294 per sq.ft. This increased to Rs 333 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007, a +5% increase. In 2012, the value increased to Rs 500 per sq.ft, reflecting a +43% change. However, in 2017, the guideline value decreased to Rs 335 per sq.ft, showing a decline of -33%. The value surged to Rs 700 per sq.ft in 2023, which is a +109% increase. The most recent revision in 2024 set the value at Rs 771 per sq.ft, representing a +10% change from the previous year.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +162%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Block 6 Nadu Street's 2024 figure below that median.

• Block 6 Kuppakatthan Lane: Rs 771 per sq.ft (2024)
• Block 6 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 6 Krishthuvar Street: Rs 771 per sq.ft (2024)
• Block 6 New Street: Rs 771 per sq.ft (2024)
• Block 6 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 6 Sivasanmugam Pillai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Nadu 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 fees together to 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 6 Nadu Street?

The Sub Registrar Office that covers Block 6 Nadu 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 reference point when buying or selling property in Ward E. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the authorities. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Block 6 Nadu Street?

The current guideline value of Block 6 Nadu 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 changed significantly over the years, from Rs 294 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, marking an overall increase of +162%.

What is the registration office for Block 6 Nadu Street?

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

How is stamp duty calculated for property in Block 6 Nadu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 7,71,000, leading to a stamp duty of Rs 53,970 at 7%.

What is the land classification of Block 6 Nadu Street?

Block 6 Nadu Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.