Guideline Value for Bank Street

Bank Street guideline value

The current guideline value of Bank Street in Ammapettai village, under the Ammapettai_Erode SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Bank Street has changed

Over the years, the guideline value of Bank Street has seen several revisions. The earliest recorded value in the register is from 2002, which was Rs 63 per sq.ft. This value increased to Rs 72 per sq.ft in 2003, marking a change of +14%. In 2007, the value rose significantly to Rs 80 per sq.ft, an increase of +11%. The 2012 revision saw the value jump to Rs 300 per sq.ft, reflecting a substantial increase of +275%. However, in the subsequent revision in 2017, the value decreased to Rs 201 per sq.ft, a drop of -33%. The 2023 revision maintained the value at Rs 300 per sq.ft, and the latest revision for 2024 also stands at Rs 300 per sq.ft, indicating no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +376%. There are no figures recorded for the years not mentioned in the revisions, so the register has no figure for those years.

Guideline values in Ammapettai

In Ammapettai, there are 30 streets under the Ammapettai_Erode SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Bank Street is above this median.

• Bharathiyar Street: Rs 300 per sq.ft (2024)
• Anthonipuram: Rs 100 per sq.ft (2024)
• Anna Nagar: Rs 100 per sq.ft (2024)
• Chettiyar Street: Rs 200 per sq.ft (2024)
• Aattru Orram: Rs 100 per sq.ft (2024)
• Harijana Colony Ammapettai: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Bank Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bank Street?

The Sub Registrar Office that covers Bank Street is the Ammapettai_Erode Sub Registrar Office, located at Veterinayhospital Street, Ammapettai, Anthiyur Tk, Erode Dt-638311, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ammapettai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the property transfer process.

When a property is registered, the guideline value is used to calculate the applicable fees. It is essential for buyers to be aware of the current guideline value to understand the financial implications of their property transaction.

Frequently asked questions

What is the current guideline value of Bank Street?

The current guideline value of Bank Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most significant change occurring from 2007 to 2012, where it increased from Rs 80 to Rs 300 per sq.ft. Overall, from 2002 to 2024, the value has increased by +376%.

What is the land classification for Bank Street?

Bank Street is classified as Residential Class I Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for property in Bank Street?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Bank Street located?

The Sub Registrar Office for Bank Street is the Ammapettai_Erode Sub Registrar Office, located at Veterinayhospital Street, Ammapettai, Anthiyur Tk, Erode Dt-638311, Coimbatore registration zone.