Guideline Value for Block 7 Nethaji Street

Block 7 Nethaji Street guideline value

The current guideline value of Block 7 Nethaji Street is Rs 1,925 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Block 7 Nethaji Street has changed

The guideline value for Block 7 Nethaji Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 557 per sq.ft. This increased to Rs 630 per sq.ft in 2003, marking a 13% rise. In 2007, the value jumped significantly to Rs 750 per sq.ft, reflecting a 19% increase. The next revision in 2012 saw the value rise to Rs 1,750 per sq.ft, a substantial 133% increase from the previous figure. However, in 2017, the guideline value dropped to Rs 1,172 per sq.ft, which was a decrease of 33%. The value then rose to Rs 1,750 per sq.ft in 2023, before reaching the current figure of Rs 1,925 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 246%. There are no figures recorded for the years not mentioned in the revisions for this street.

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, with a median value of Rs 825 per sq.ft. The guideline value for Block 7 Nethaji Street is above this median.

• Block 7 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 7 Pzhallakkara Street (Seedhakadhi Street): Rs 1,100 per sq.ft (2024)
• Block 7 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 7 Cutcheri Street: Rs 1,650 per sq.ft (2024)
• Block 7 Court Street (or) Periyar Street: Rs 1,100 per sq.ft (2024)
• Block 7 Uppukinar Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 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 would be Rs 19,25,000. The stamp duty at 7% would amount to Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, making the total cost for these fees Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 7 Nethaji Street?

The Sub Registrar Office that covers Block 7 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 further assistance.

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 is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for calculating the fees.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is regularly updated, and it is advisable to check the current rates before proceeding with any transaction.

Frequently asked questions

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

The current guideline value for Block 7 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 557 per sq.ft in 2002 to Rs 1,925 per sq.ft in 2024, marking an overall increase of 246% over this period.

What is the stamp duty rate for property in Block 7 Nethaji Street?

The stamp duty rate for property in Block 7 Nethaji Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 7 Nethaji Street located?

The Sub Registrar Office for Block 7 Nethaji Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, Coimbatore registration zone.

How can I calculate the registration fees for property in Block 7 Nethaji Street?

You can calculate the registration fees using the guideline value and the applicable rates for stamp duty and registration fees. For more details, you can use our stamp duty and registration fee calculator.