Guideline Value for Block 9 E.V.Nanjappa Street

Block 9 E.V.Nanjappa Street guideline value

The current guideline value of Block 9 E.V.Nanjappa Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Block 9 E.V.Nanjappa Street has changed

The guideline value for Block 9 E.V.Nanjappa Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 532 per sq.ft. This value increased to Rs 596 per sq.ft in 2003, marking a 12% rise. Following this, the value rose by 26% to Rs 750 per sq.ft in 2007. The next revision in 2012 saw a significant increase of 300%, bringing the value to Rs 3,000 per sq.ft. However, in 2017, the value dropped by 33% to Rs 2,010 per sq.ft. The 2023 revision set the value at Rs 3,000 per sq.ft, which then increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 520%. There are no figures available for the revisions in years other than those mentioned above for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 9 E.V.Nanjappa Street is above this median.

• Block 9 Kalaimagal School Road: Rs 1,100 per sq.ft (2024)
• Block 9 Muthusamy Sandu: Rs 1,100 per sq.ft (2024)
• Block 9 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 9 Pavadai Street: Rs 825 per sq.ft (2024)
• Block 9 Periyana Street: Rs 1,100 per sq.ft (2024)
• Block 9 Power House Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 E.V.Nanjappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 9 E.V.Nanjappa Street?

The Sub Registrar Office that covers Block 9 E.V.Nanjappa 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 further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ward B. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable 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 9 E.V.Nanjappa Street?

The current guideline value of Block 9 E.V.Nanjappa Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 532 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 520% over this period.

What is the land classification for Block 9 E.V.Nanjappa Street?

Block 9 E.V.Nanjappa Street is classified as Commercial Class I Type - II.

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

The Sub Registrar Office covering Block 9 E.V.Nanjappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.