Guideline Value for Block 10 South Okkiliyar Street

Block 10 South Okkiliyar Street guideline value

The current guideline value for Block 10 South 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 and is classified as Residential Class III Type - I.

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

The guideline value for Block 10 South Okkiliyar Street has undergone several revisions since 2002. In 2002, the value was Rs 288 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a 22% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2012, but it dropped by 33% to Rs 335 per sq.ft in 2017. Following this, the value surged by 109% to Rs 700 per sq.ft in 2023, before reaching the current value of Rs 771 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there is no figure available for Block 10 South Okkiliyar Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 168%.

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, with a median value of Rs 825 per sq.ft. The guideline value for Block 10 South Okkiliyar Street is below this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total cost for these fees to Rs 69,390. 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 10 South Okkiliyar Street?

The Sub Registrar Office that covers Block 10 South Okkiliyar 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 when registering property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Block 10 South Okkiliyar Street?

The current guideline value for Block 10 South 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 288 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 168% over the years.

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

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles registrations for Block 10 South Okkiliyar Street?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 10 South Okkiliyar Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties in Ward E?

The guideline value is determined by the Registration Department and is based on various factors, including the classification of the land and market conditions in the area.