Guideline Value for Block 9 Chithambaram Park

Block 9 Chithambaram Park guideline value

The current guideline value of Block 9 Chithambaram Park is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 9 Chithambaram Park has changed

The guideline value for Block 9 Chithambaram Park has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft. This increased significantly to Rs 520 per sq.ft in 2003, marking a change of +395%. The 2007 revision saw a further increase to Rs 750 per sq.ft, which was a +44% change. In 2012, the value rose to Rs 2,500 per sq.ft, reflecting a substantial +233% increase. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, a decrease of -33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision has set it at Rs 2,750 per sq.ft, which is an increase of +10% from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +2,519%. There are no other revisions with figures for this street in the register.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Block 9 Chithambaram Park's 2024 figure above that median.

• Block 9 A.P.Thangavel Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 9 Anna Nagar: Rs 1,925 per sq.ft (2024)
• Block 9 E.V.K.SampathRoad: Rs 2,750 per sq.ft (2024)
• Block 8 Thirunagar Colony Road No.1,2: Rs 2,200 per sq.ft (2024)
• Block 8 Pumpings Station Road Main Road: Rs 825 per sq.ft (2024)
• Block 9 Pudhusanthai Road (or) New Bus stand Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 Chithambaram Park

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 9 Chithambaram Park?

The Sub Registrar Office that covers Block 9 Chithambaram Park 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 additional information.

How the guideline value is used when you buy or sell in Ward A

The guideline value plays a crucial role in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Block 9 Chithambaram Park?

The current guideline value for Block 9 Chithambaram Park is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +2,519% over the years.

What is the land classification for Block 9 Chithambaram Park?

Block 9 Chithambaram Park is classified as Commercial Class I Type - III.

What are the stamp duty rates for property in this area?

The stamp duty rate for property in Block 9 Chithambaram Park is 7%, based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Block 9 Chithambaram Park is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.