Guideline Value for Block 7 S.K.Chenniappa Street

Block 7 S.K.Chenniappa Street guideline value

The current guideline value of Block 7 S.K.Chenniappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 7 S.K.Chenniappa Street has changed

The guideline value for Block 7 S.K.Chenniappa Street has undergone several revisions over the years. The earliest recorded figure was Rs 532 per sq.ft in 2002, which increased to Rs 596 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 750 per sq.ft in 2007, reflecting a 26% increase from the previous revision. Following this, the value was revised to Rs 1,250 per sq.ft in 2012, which was a 67% increase from 2007. However, the value decreased by 33% to Rs 837 per sq.ft in 2017. The next revision in 2023 set the value at Rs 1,250 per sq.ft, a significant 49% increase from 2017. The most recent revision in 2024 raised the guideline value to Rs 1,375 per sq.ft, which is a 10% increase from the previous year.

The overall change from the initial value in 2002 to the current value in 2024 represents an increase of 158%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 7 S.K.Chenniappa Street's 2024 figure above that median.

• Block 7 Vamalai Street: Rs 771 per sq.ft (2024)
• Block 7 Perumal Street: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Street (or) Athiyanan Street: Rs 825 per sq.ft (2024)
• Block 8 Chenniappa Street: Rs 1,925 per sq.ft (2024)
• Block 7 Muthusamy Lane: Rs 825 per sq.ft (2024)
• Block 7 Mosuvana Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 S.K.Chenniappa Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. 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 S.K.Chenniappa Street?

The Sub Registrar Office covering Block 7 S.K.Chenniappa 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 information.

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

The guideline value serves as a reference point for property transactions in Ward B. It is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 7 S.K.Chenniappa Street?

The current guideline value of Block 7 S.K.Chenniappa Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 158% over the years.

What is the median guideline value in Ward B?

The median guideline value in Ward B is Rs 1,100 per sq.ft, with Block 7 S.K.Chenniappa Street's 2024 figure being above this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,23,750, calculated based on the guideline value of Rs 13,75,000.

Where is the Sub Registrar Office for Block 7 S.K.Chenniappa Street located?

The Sub Registrar Office for Block 7 S.K.Chenniappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.