Guideline Value for Block 1 Perumal Naidu Street

Block 1 Perumal Naidu Street guideline value

The current guideline value of Block 1 Perumal Naidu Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 1 Perumal Naidu Street has changed

The guideline value for Block 1 Perumal Naidu Street has undergone several revisions over the years. In 2002, the guideline value was Rs 431 per sq.ft. It increased to Rs 487 per sq.ft in 2003, marking a 13% rise. The value then saw a further increase to Rs 600 per sq.ft in 2007, which was a 23% increase. In 2012, it changed to Rs 750 per sq.ft, reflecting a 25% increase from the previous revision. However, in 2017, the guideline value dropped to Rs 502 per sq.ft, indicating a decrease of 33% from 2012. The value then rose significantly to Rs 750 per sq.ft in 2023, a 49% increase. Finally, the current revision in 2024 set the guideline value at Rs 825 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 91%. There are no figures available for any other years for this street in the register.

Guideline values in Ward E

In Ward E, there are 196 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 is Rs 825 per sq.ft, which is equal to the current value of Block 1 Perumal Naidu Street. Below are other streets in Ward E:

• Block 1 Muthu Vellappa Gounder Street: Rs 1,925 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 S.K. Chenniappa Gounder Road: Rs 1,650 per sq.ft (2024)
• Block 1 Muthusamy Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Kandhappa Street: Rs 1,100 per sq.ft (2024)
• Block 20 Jeevanandham Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Perumal Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost for these fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 1 Perumal Naidu Street?

The Sub Registrar Office that covers Block 1 Perumal Naidu Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the legal obligations for both the buyer and the seller. It is important to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Block 1 Perumal Naidu Street?

The current guideline value of Block 1 Perumal Naidu Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 431 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 91% over the years.

What is the registration office for Block 1 Perumal Naidu Street?

The registration office for Block 1 Perumal Naidu Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 825 per sq.ft, the stamp duty would be Rs 57,750.

What are the other streets in Ward E with their guideline values?

Other streets in Ward E include Block 1 Muthu Vellappa Gounder Street at Rs 1,925 per sq.ft, Block 1 Muthu Vellappa Gounder Lane at Rs 1,100 per sq.ft, and several others, all carrying their respective guideline values for 2024.