Guideline Value for Block 10 Vaikkal Road

Block 10 Vaikkal Road guideline value

The current guideline value of Block 10 Vaikkal Road 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Block 10 Vaikkal Road has changed

The guideline value for Block 10 Vaikkal Road has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 700 per sq.ft, and the latest revision in 2024 has set the value at Rs 771 per sq.ft. The register has no figures for this street for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 109%, while from 2012 to 2017, it decreased by 33%. The jump from 2023 to 2024 represents a 10% increase, resulting in an overall increase of 120% from 2007 to 2024.

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 Vaikkal Road is below this median.

• Block 10 South Okkiliyar Street: 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 Vaikkal Road

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 fees to Rs 69,390. 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 details.

Which Sub Registrar Office covers Block 10 Vaikkal Road?

The Sub Registrar Office that covers Block 10 Vaikkal Road 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 plays a crucial role during the registration of property transactions in Ward E. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Block 10 Vaikkal Road?

The current guideline value of Block 10 Vaikkal Road 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, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for property in Block 10 Vaikkal Road?

For a 1,000 sq.ft plot, the total guideline value is 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 the registration for Block 10 Vaikkal Road?

The Erode Joint I Sub Registrar Office handles the registration for Block 10 Vaikkal Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the fees are based on the higher value between the guideline and sale price, facilitating proper revenue collection for the government.