Guideline Value for Block 12 Arun Street

Block 12 Arun Street guideline value

The current guideline value of Block 12 Arun Street, located in Ward B village under the Erode Joint I SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Block 12 Arun Street has changed

The guideline value of Block 12 Arun Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it to Rs 1,100 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Ward B

In Ward B, there are 170 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 is Rs 1,100 per sq.ft, which is equal to the 2024 figure for Block 12 Arun Street.

• Block 12 A.Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 12 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 12 Muthukaruppan St: Rs 1,650 per sq.ft (2024)
• Block 11 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 11 Power House Road: Rs 1,100 per sq.ft (2024)
• Block 12 N.G.G.O.Colony Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Arun Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. 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 12 Arun Street?

The Sub Registrar Office that covers Block 12 Arun 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 B

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected based on the guideline value.

Frequently asked questions

What is the current guideline value of Block 12 Arun Street?

The current guideline value of Block 12 Arun Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Block 12 Arun Street?

The land classification for Block 12 Arun Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Block 12 Arun Street?

The Sub Registrar Office for Block 12 Arun 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 Block 12 Arun Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7% and a registration fee of Rs 22,000 at 2%.