Guideline Value for Block 1 Krishnan Street

Block 1 Krishnan Street guideline value

The current guideline value for Block 1 Krishnan Street is Rs 772 per sq.ft, effective from 1 July 2024. This street is located in Ward C village and falls under the Erode Joint I SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Block 1 Krishnan Street has changed

The guideline value for Block 1 Krishnan Street has undergone several revisions over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 209 per sq.ft in 2003, marking a rise of 12%. The value then rose significantly to Rs 300 per sq.ft in 2007, reflecting an increase of 44%. However, the value decreased to Rs 600 per sq.ft in 2012, a drop of 33%. The value saw another increase to Rs 402 per sq.ft in 2017, which was a 74% rise. The most recent revision in 2023 set the value at Rs 700 per sq.ft, and the current value for 2024 is Rs 772 per sq.ft, representing a 10% increase.

There are no figures available for the revisions in years other than those listed above. The overall change from 2002 to 2024 is an increase of 315% in the guideline value per sq.ft for Block 1 Krishnan 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. The median value for these streets is Rs 1,375 per sq.ft, and Block 1 Krishnan Street's current figure is below this median.

• Block 1 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 1 Maniyar Thottam: Rs 771 per sq.ft (2024)
• Block 1 Cavuery Road Main Road: Rs 825 per sq.ft (2024)
• Block 1 Pachiamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 1 Patchiamman Koil St: Rs 771 per sq.ft (2024)
• Block 19 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value would be Rs 7,72,000. The stamp duty, charged at 7%, would amount to Rs 54,040, and the registration fee, charged at 2%, would be Rs 15,440. Together, these fees would total Rs 69,480. 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 precise calculations.

Which Sub Registrar Office covers Block 1 Krishnan Street?

The Sub Registrar Office that covers Block 1 Krishnan 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 C

The guideline value is a critical factor when registering property transactions in Ward C. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property. The guideline value ensures a standardised measure for property transactions in the area.

When buying or selling property, it is essential to refer to the latest guideline value, as it directly impacts the costs associated with the transaction. Buyers and sellers should be aware of these values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Block 1 Krishnan Street?

The current guideline value for Block 1 Krishnan Street is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 186 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, showing an overall increase of 315% across the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,72,000, the stamp duty would be Rs 54,040, and the registration fee would be Rs 15,440, totaling Rs 69,480.

Which Sub Registrar Office handles registrations for Block 1 Krishnan Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 1 Krishnan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 1 Krishnan Street?

The land classification for Block 1 Krishnan Street is Residential Class II Type - III.