Guideline Value for Block 7 Chinnappa Street

Block 7 Chinnappa Street guideline value

The current guideline value for Block 7 Chinnappa Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 7 Chinnappa Street has changed

The guideline value for Block 7 Chinnappa Street has undergone several revisions over the years. In 2002, the guideline value was Rs 225 per sq.ft. This increased to Rs 253 per sq.ft in 2003, marking a 12% rise. The value saw further increases, reaching Rs 400 per sq.ft in 2007, which was a 58% increase from the previous revision. The 2012 revision set the value at Rs 1,000 per sq.ft, reflecting a significant 150% increase from 2007. However, in 2017, the value dropped to Rs 670 per sq.ft, showing a decline of 33% from 2012. The value then increased to Rs 1,000 per sq.ft in 2023, which was a 49% rise from 2017, before reaching the current value of Rs 1,100 per sq.ft in 2024, a 10% increase from the previous year.

There are no figures available for revisions in years other than those listed. The overall increase from 2002 to 2024 is 389%.

Guideline values in Ward B

In Ward B, there are 170 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 value is Rs 1,100 per sq.ft, which is equal to the guideline value for Block 7 Chinnappa Street.

• Block 7 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 7 Mosuvana Kadu: Rs 825 per sq.ft (2024)
• Block 7 Mosuvana Lane: Rs 825 per sq.ft (2024)
• Block 7 Mosuvana Street: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Lane: Rs 825 per sq.ft (2024)
• Block 6 Vamalai Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Chinnappa Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 7 Chinnappa Street?

The Sub Registrar Office that covers Block 7 Chinnappa 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 B

The guideline value is a critical factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is registered, the guideline value is used to determine the applicable fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Block 7 Chinnappa Street?

The current guideline value for Block 7 Chinnappa Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, the value has increased by 389% from 2002 to 2024.

What is the classification of Block 7 Chinnappa Street?

Block 7 Chinnappa Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Block 7 Chinnappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for property in Ward B?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.