Guideline Value for Block 8 Chenniappa Street

Block 8 Chenniappa Street guideline value

The current guideline value of Block 8 Chenniappa Street is Rs 1,925 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 - I.

How the guideline value of Block 8 Chenniappa Street has changed

The guideline value of Block 8 Chenniappa Street has undergone several revisions over the years. In 2002, the value was Rs 1,006 per sq.ft, which increased to Rs 1,127 per sq.ft in 2003, marking a 12% rise. The value then saw an increase to Rs 1,250 per sq.ft in 2007, which was an 11% change. Following this, the value rose significantly to Rs 1,750 per sq.ft in 2012, reflecting a 40% increase. However, it dropped to Rs 1,172 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 1,750 per sq.ft in 2023 and has now reached Rs 1,925 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 91%. The register has no figure for this street in the years not listed above.

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, with a median value of Rs 1,100 per sq.ft. The guideline value of Block 8 Chenniappa Street is above this median.

• Block 8 Kalaimagal School Road: Rs 1,375 per sq.ft (2024)
• Block 7 Vamalai Street: Rs 771 per sq.ft (2024)
• Block 7 S.K.Chenniappa Street: Rs 1,375 per sq.ft (2024)
• Block 8 Mosuvana Street: Rs 1,100 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)

Stamp duty and registration fee for property in Block 8 Chenniappa 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 be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total to Rs 1,73,250. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 8 Chenniappa Street?

The Sub Registrar Office that covers Block 8 Chenniappa 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 crucial factor in property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable duties and fees. This ensures that both parties are informed about the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Block 8 Chenniappa Street?

The current guideline value of Block 8 Chenniappa 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 seen several changes, starting from Rs 1,006 per sq.ft in 2002 to Rs 1,925 per sq.ft in 2024. Notable increases occurred between 2017 and 2023, and from 2023 to 2024, the value increased by 10%.

What is the land classification for Block 8 Chenniappa Street?

Block 8 Chenniappa Street is classified as Residential Class I Type - I. This classification is important for determining the applicable guidelines and regulations for property in this area.

What other streets are in Ward B?

There are several other streets in Ward B with their respective guideline values. For example, Block 8 Kalaimagal School Road is valued at Rs 1,375 per sq.ft, while Block 7 Vamalai Street is valued at Rs 771 per sq.ft.

Where is the Sub Registrar Office located for this area?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009. This office handles all registration activities for properties in the area.