Guideline Value for Block 8 Nethaji Street

Block 8 Nethaji Street guideline value

The current guideline value of Block 8 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, classified as Residential Class I Type - I.

How the guideline value of Block 8 Nethaji Street has changed

Since 2002, the guideline value for Block 8 Nethaji Street has seen significant changes. The 2002 revision set the value at Rs 557 per sq.ft, which increased to Rs 630 per sq.ft in 2003, marking a 13% rise. Following this, the value rose to Rs 750 per sq.ft in 2007, a 19% increase. The 2012 revision saw a substantial jump to Rs 1,750 per sq.ft, reflecting a 133% increase. However, the value dropped to Rs 1,172 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 1,750 per sq.ft in 2023, which was a 49% rise, and finally, it reached Rs 1,925 per sq.ft in the 2024 revision, a 10% increase.

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

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. The median value for these streets is Rs 825 per sq.ft, placing Block 8 Nethaji Street's 2024 figure above that median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 1,925 per sq.ft, the 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, totaling Rs 1,73,250. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 8 Nethaji Street?

The Sub Registrar Office that covers Block 8 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 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 when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

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

Frequently asked questions

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

The current guideline value of Block 8 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 significantly from Rs 557 per sq.ft in 2002 to Rs 1,925 per sq.ft in 2024, reflecting an overall increase of 246% over this period.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,73,250, based on the current rates.

Which office handles registrations for Block 8 Nethaji Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 8 Nethaji Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher value is used for calculating the applicable duties and fees.