Guideline Value for Block 10 North Okkiliyar Street

Block 10 North Okkiliyar Street guideline value

The current guideline value of Block 10 North Okkiliyar Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 10 North Okkiliyar Street has changed

The guideline value for Block 10 North Okkiliyar Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 350 per sq.ft. This increased to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. A significant rise occurred in the 2023 revision, bringing the value up to Rs 700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 771 per sq.ft.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 109%. However, from 2012 to 2017, there was a decrease of 33%. The increase from 2007 to 2012 was 43%. Overall, from 2007 to 2024, the guideline value has risen by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 825 per sq.ft, indicating that Block 10 North Okkiliyar Street's 2024 figure is below that median.

• Block 10 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 10 South Okkiliyar Street: Rs 771 per sq.ft (2024)
• Block 10 Vaikkal Road: Rs 771 per sq.ft (2024)
• Block 10 East Okkiliyar Street (Kambar Street): Rs 771 per sq.ft (2024)
• Block 10 Venkitasamy Ravuth Street: Rs 771 per sq.ft (2024)
• Block 11 Nethaji Street Part-2: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 North Okkiliyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, while the registration fee at 2% would be Rs 15,420, bringing the total to Rs 69,390. It's important to note that 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 10 North Okkiliyar Street?

The Sub Registrar Office that covers Block 10 North Okkiliyar 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 more information.

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

The guideline value is a crucial factor in property transactions in Ward E. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers. It ensures that the property is registered at a fair value, which is necessary for legal and financial processes. Buyers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Block 10 North Okkiliyar Street?

The current guideline value of Block 10 North Okkiliyar Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 771 per sq.ft in 2024, with several revisions in between, including a significant increase of 109% from 2017 to 2023.

What is the classification of Block 10 North Okkiliyar Street?

Block 10 North Okkiliyar Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Block 10 North Okkiliyar 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 53,970.