Guideline Value for Block 1 Perundurai Road

Block 1 Perundurai Road guideline value

The current guideline value for Block 1 Perundurai Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Block 1 Perundurai Road has changed

The guideline value for Block 1 Perundurai Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. This figure decreased significantly to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a substantial increase of 49% to reach Rs 4,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, which is a 10% rise from the previous year.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 1 Perundurai Road's 2024 figure above this median.

• Block 20 Chennimalai ( or) Muthukumarasamy Street: Rs 825 per sq.ft (2024)
• Block 20 Devaki Street: Rs 825 per sq.ft (2024)
• Block 20 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 1 Chinnamuthu Street 2: Rs 2,200 per sq.ft (2024)
• Block 1 Chinnamuthu Street 1: Rs 2,200 per sq.ft (2024)
• Block 20 N.G.G.O.Colony Street 1 to 8: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Perundurai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Block 1 Perundurai Road?

The Sub Registrar Office that covers Block 1 Perundurai Road 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions as set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 1 Perundurai Road?

The current guideline value for Block 1 Perundurai Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Block 1 Perundurai Road?

Block 1 Perundurai Road is classified as Commercial Class I Type - I.

Where can I find the Erode Joint I Sub Registrar Office?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000.