Guideline Value for Block 8 Nachinarkiniyar Street

Block 8 Nachinarkiniyar Street guideline value

The current guideline value of Block 8 Nachinarkiniyar Street is Rs 771 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 III Type - I land classification.

How the guideline value of Block 8 Nachinarkiniyar Street has changed

The guideline value for Block 8 Nachinarkiniyar Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 700 per sq.ft, and the current value is Rs 771 per sq.ft as of 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a significant increase of 109%, followed by a 10% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 208%. The fluctuations in the guideline values highlight the dynamic nature of property assessments in the region.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft as of 2024. The median guideline value in this area is Rs 825 per sq.ft, placing Block 8 Nachinarkiniyar Street's current value below this median.

• Block 8 Nanjaiya Pillai Lane: Rs 771 per sq.ft (2024)
• Block 8 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 8 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 8 North Okkiliar Street, Arulmozhi theru: Rs 772 per sq.ft (2024)
• Block 8 Jothi Street: Rs 771 per sq.ft (2024)
• Block 8 South Okkiliyar Steet (Kopperundevi Street): Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Nachinarkiniyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Block 8 Nachinarkiniyar Street?

The Sub Registrar Office covering Block 8 Nachinarkiniyar 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 E

The guideline value plays a crucial role in the registration process for property transactions in Ward E. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value serves as a benchmark for assessing the value of properties in the area.

When a property is sold, the higher of the guideline value or the sale price is taken into consideration for calculating the applicable duties and fees. This ensures that the registration process is aligned with the official property assessments in the region.

Frequently asked questions

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

The current guideline value of Block 8 Nachinarkiniyar Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 208% over the years.

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

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles registrations for Block 8 Nachinarkiniyar Street?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 8 Nachinarkiniyar Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the median guideline value in Ward E?

The median guideline value in Ward E is Rs 825 per sq.ft, and Block 8 Nachinarkiniyar Street's current value is below this median.