Guideline Value for Block 11 Vaikkal Road

Block 11 Vaikkal Road guideline value

The current guideline value for Block 11 Vaikkal Road is Rs 771 per sq.ft. This property 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 11 Vaikkal Road has changed

The guideline value for Block 11 Vaikkal Road has seen significant changes over the years. In 2002, the guideline value was Rs 216 per sq.ft, which 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, reflecting a 43% increase. By 2012, the value reached Rs 500 per sq.ft, showing a 43% increase from the previous revision. However, it dropped to Rs 335 per sq.ft in 2017, which was a decrease of 33%. The value saw a substantial increase to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 771 per sq.ft, indicating a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 257%. There are no figures available for the years not listed in the register for this street.

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, placing Block 11 Vaikkal Road's 2024 figure below that median.

• Block 11 Vaikkal Road (old): 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

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, charged 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 11 Vaikkal Road?

The Sub Registrar Office that covers Block 11 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 here.

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

The guideline value is a crucial factor during the registration of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these fees are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the official value of the property, which can influence negotiations and final sale prices. It is essential to be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

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

The current guideline value for Block 11 Vaikkal Road is Rs 771 per sq.ft as of the 2024 revision.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 216 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, marking an overall increase of 257% across the revisions.

What is the registration fee for properties in Block 11 Vaikkal Road?

The registration fee for properties in Block 11 Vaikkal Road is calculated based on the guideline value or the sale price, whichever is higher, with a rate of 2% applicable.

Where can I find the Sub Registrar Office for Block 11 Vaikkal Road?

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

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

The guideline value for properties in Ward E is determined by the Registration Department's guideline value register, taking into account various factors including land classification and historical revisions.