Guideline Value for Block 12 Patchiamman Kovil Street

Block 12 Patchiamman Kovil Street guideline value

The current guideline value for Block 12 Patchiamman Kovil Street is Rs 770 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 IV Type - I.

How the guideline value of Block 12 Patchiamman Kovil Street has changed

The guideline value for Block 12 Patchiamman Kovil Street has seen several revisions over the years. In 2002, the value was Rs 126 per sq.ft, which increased to Rs 143 per sq.ft in 2003, marking a 13% rise. Following this, the value rose to Rs 200 per sq.ft in 2007, a 40% increase. By 2012, the value had increased to Rs 300 per sq.ft, reflecting a 50% rise from the previous revision. However, from 2012 to 2017, there was a decrease to Rs 201 per sq.ft, a drop of 33%. The value then surged to Rs 700 per sq.ft in 2023, a significant increase of 248% from 2017. The latest revision in 2024 sets the value at Rs 770 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions prior to 2002 or for any other years not listed. The overall change from 2002 to 2024 shows an increase of 511% in the guideline value for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 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, making the 2024 value for Block 12 Patchiamman Kovil Street below the median.

• Block 12 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 12 Old Arundhadhiyar Huts: Rs 770 per sq.ft (2024)
• Block 12 Nataraja Theatre Huts: Rs 771 per sq.ft (2024)
• Block 12 Karur Road: Rs 771 per sq.ft (2024)
• Block 13 Karur Road: Rs 771 per sq.ft (2024)
• Block 13 Nataraja Theatre Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Patchiamman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 12 Patchiamman Kovil Street?

The Sub Registrar Office that covers Block 12 Patchiamman Kovil 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 E

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 12 Patchiamman Kovil Street?

The current guideline value for Block 12 Patchiamman Kovil Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 126 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, which is an overall increase of 511%.

What is the registration office for Block 12 Patchiamman Kovil Street?

The registration office for Block 12 Patchiamman Kovil 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.

Are there other streets in Ward E with similar guideline values?

Yes, there are several other streets in Ward E with guideline values around Rs 770 per sq.ft, including Block 12 Old Railway Station Road and Block 12 Old Arundhadhiyar Huts, both valued at Rs 770 per sq.ft in 2024.