Guideline Value for Block 8 Varadhappan Rd

Block 8 Varadhappan Rd guideline value

The current guideline value for Block 8 Varadhappan Rd is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - II.

How the guideline value of Block 8 Varadhappan Rd has changed

The guideline value for Block 8 Varadhappan Rd has seen several revisions over the years. In 2003, the guideline value was Rs 166 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value rose to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The most significant increase occurred between 2017 and 2023, where the value jumped to Rs 700 per sq.ft, marking a 109% rise. The latest revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

The overall change from 2003 to 2024 shows a significant increase of 364%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 8 Varadhappan Rd is below this median.

• Block 8 Veeran Street: Rs 770 per sq.ft (2024)
• Block 8 ThiruNagarColony: Rs 1,925 per sq.ft (2024)
• Block 8 Subbaian Street: Rs 772 per sq.ft (2024)
• Block 8 Shagan Street: Rs 771 per sq.ft (2024)
• Block 9 Kannian Street 1-3: Rs 1,100 per sq.ft (2024)
• Block 9 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Varadhappan Rd

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to 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 8 Varadhappan Rd?

The Sub Registrar Office covering Block 8 Varadhappan Rd 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 C

The guideline value is a crucial factor when registering property transactions in Ward C. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that property transactions are fairly assessed and that all parties are aware of their financial obligations.

Frequently asked questions

What is the current guideline value for Block 8 Varadhappan Rd?

The current guideline value for Block 8 Varadhappan Rd is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 166 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 364% over the period.

What is the classification of land for Block 8 Varadhappan Rd?

Block 8 Varadhappan Rd is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 770 per sq.ft would incur a total guideline value of Rs 7,70,000, resulting in specific fees based on that amount.