Guideline Value for Block 8 Nanjaiya Pillai Lane

Block 8 Nanjaiya Pillai Lane guideline value

The current guideline value of Block 8 Nanjaiya Pillai Lane is Rs 771 per sq.ft. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 8 Nanjaiya Pillai Lane has changed

The guideline value for Block 8 Nanjaiya Pillai Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 294 per sq.ft. In 2003, it increased to Rs 333 per sq.ft, marking a change of +13%. The 2007 revision set the value at Rs 400 per sq.ft, with a +20% increase from the previous figure. In 2012, the value rose to Rs 500 per sq.ft, reflecting a +25% change. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, a drop of -33%. The 2023 revision increased it to Rs 700 per sq.ft, which was a significant +109% increase. Finally, the current 2024 revision has set the value at Rs 771 per sq.ft, a +10% increase from 2023.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +162%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 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 8 Nanjaiya Pillai Lane is below this median.

• Block 8 Nachinarkiniyar Street: Rs 771 per sq.ft (2024)
• Block 8 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 8 Mandapam Street: Rs 1,375 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 Nanjaiya Pillai Lane

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

Which Sub Registrar Office covers Block 8 Nanjaiya Pillai Lane?

The Sub Registrar Office covering Block 8 Nanjaiya Pillai Lane 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 is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented accurately according to the prevailing rates.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 8 Nanjaiya Pillai Lane?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 294 per sq.ft to Rs 771 per sq.ft in 2024, reflecting an overall increase of +162% over the years.

What is the registration office for Block 8 Nanjaiya Pillai Lane?

The registration office for Block 8 Nanjaiya Pillai Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot would incur a total fee of Rs 69,390 based on the current guideline value.

Are there other streets with similar guideline values in Ward E?

Yes, there are several other streets in Ward E with similar guideline values, such as Block 8 Nachinarkiniyar Street and Block 8 Jothi Street, both at Rs 771 per sq.ft in 2024.