Guideline Value for Block 11 Vaikkal Road (old)

Block 11 Vaikkal Road (old) guideline value

The current guideline value of Block 11 Vaikkal Road (old) is Rs 771 per sq.ft, effective from 1 July 2024. This property 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 11 Vaikkal Road (old) has changed

The guideline value for Block 11 Vaikkal Road (old) has seen several revisions over the years. The earliest recorded value in 2002 was Rs 216 per sq.ft. This increased to Rs 245 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 350 per sq.ft in 2007, which was a 43% increase. In 2012, the value adjusted to Rs 500 per sq.ft, reflecting a decrease of 33%. Following this, the value surged to Rs 335 per sq.ft in 2017, a significant increase of 109%. The most recent revision in 2023 set the value at Rs 700 per sq.ft, which increased by 10% to the current value of Rs 771 per sq.ft in 2024.

It is important to note that there are no figures available for the revisions of this street in years other than those listed. The overall change from 2002 to 2024 is an increase of 257%.

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 value for these streets is Rs 825 per sq.ft, indicating that the 2024 guideline value for Block 11 Vaikkal Road (old) is below this median.

• Block 11 Vaikkal Road: Rs 771 per sq.ft (2024)
• Block 11 Nethaji Street Part-2: Rs 1,375 per sq.ft (2024)
• Block 12 Karur Road: Rs 771 per sq.ft (2024)
• Block 12 Nataraja Theatre Huts: Rs 771 per sq.ft (2024)
• Block 12 Old Arundhadhiyar Huts: Rs 770 per sq.ft (2024)
• Block 12 Old Railway Station Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Vaikkal Road (old)

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. Together, the total fees would amount 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 11 Vaikkal Road (old)?

The Sub Registrar Office that covers Block 11 Vaikkal Road (old) 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 further assistance.

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 are applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market standards set by the Registration Department. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for Block 11 Vaikkal Road (old)?

The current guideline value for Block 11 Vaikkal Road (old) 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 216 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 257% over the years.

What is the stamp duty for property in Block 11 Vaikkal Road (old)?

The stamp duty for property in Block 11 Vaikkal Road (old) is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for this property located?

The Sub Registrar Office for Block 11 Vaikkal Road (old) is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What classification does Block 11 Vaikkal Road (old) fall under?

Block 11 Vaikkal Road (old) is classified as Residential Class III Type - I according to the guideline value register.