Guideline Value for Block 6 Nethaji Street

Block 6 Nethaji Street guideline value

The current guideline value of Block 6 Nethaji Street, located in Ward E village under the Erode Joint I SRO, is Rs 1,925 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Block 6 Nethaji Street has changed

The guideline value for Block 6 Nethaji Street has seen several revisions over the years. The earliest recorded revision is from 2002, where the guideline value was Rs 710 per sq.ft. This increased to Rs 803 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 900 per sq.ft in 2007, which was a +12% increase. In 2012, the value remained at Rs 1,750 per sq.ft, indicating no figure for this street in that year. The 2017 revision saw a significant increase to Rs 1,172 per sq.ft, reflecting a change of -33% from the previous figure. The guideline value then jumped to Rs 1,750 per sq.ft in 2023, before reaching the current value of Rs 1,925 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +171%. The revisions reflect the changing landscape of property values in the area, with the most recent figure indicating a robust valuation compared to earlier years.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this ward is Rs 825 per sq.ft, placing Block 6 Nethaji Street above this median.

• Block 6 Nadu Street: Rs 771 per sq.ft (2024)
• Block 6 New Street: Rs 771 per sq.ft (2024)
• Block 6 Kuppakatthan Lane: Rs 771 per sq.ft (2024)
• Block 6 Krishthuvar 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 Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, while the registration fee at 2% would be Rs 38,500, bringing the total fees together to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 6 Nethaji Street?

The Sub Registrar Office that covers Block 6 Nethaji 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 details.

How the guideline value is used when you buy or sell in Ward E

The guideline value plays a crucial role in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 6 Nethaji Street?

The current guideline value of Block 6 Nethaji Street is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 710 in 2002 to Rs 1,925 in 2024, reflecting an overall increase of +171% over the years.

What is the land classification for Block 6 Nethaji Street?

Block 6 Nethaji Street is classified as Residential Class I Type - I.

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

For a property valued at Rs 19,25,000, the stamp duty would be Rs 1,34,750 and the registration fee would be Rs 38,500, totaling Rs 1,73,250.

Which office handles property registrations for Block 6 Nethaji Street?

The Erode Joint I Sub Registrar Office handles property registrations for Block 6 Nethaji Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.