Guideline Value for Block 12 Poosari Chennimalai Gounder Street

Block 12 Poosari Chennimalai Gounder Street guideline value

The current guideline value for Block 12 Poosari Chennimalai Gounder Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village, under the Erode Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Block 12 Poosari Chennimalai Gounder Street has changed

The guideline value for Block 12 Poosari Chennimalai Gounder Street has seen several revisions over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 256 per sq.ft in 2003. Following this, the value rose to Rs 400 per sq.ft in 2007, and then significantly increased to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017 before rising again to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft.

Examining the changes between these revisions, we see that from 2017 to 2023, there was a notable increase of 49%. The value then increased by 10% from 2023 to 2024. The period from 2007 to 2012 saw a significant rise of 150%, while the value dropped by 33% from 2012 to 2017. The increase from 2003 to 2007 was 56%, and from 2002 to 2003, it was 12%. Overall, from 2002 to 2024, the guideline value has increased by 382%.

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, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 12 Poosari Chennimalai Gounder Street matches this median.

• Block 12 Varatharajan Street: Rs 1,100 per sq.ft (2024)
• Block 12 N.G.G.O.Colony Road: Rs 1,100 per sq.ft (2024)
• Block 12 Muthukaruppan St: Rs 1,650 per sq.ft (2024)
• Block 13 E.V.Nanjappa Road: Rs 3,300 per sq.ft (2024)
• Block 12 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 13 Marappa Street 1,2,3: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Poosari Chennimalai Gounder Street

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

The Sub Registrar Office covering Block 12 Poosari Chennimalai Gounder Street 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 B

The guideline value is a crucial factor in property transactions in Ward B. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue based on the established guideline values.

Frequently asked questions

What is the current guideline value for Block 12 Poosari Chennimalai Gounder Street?

The current guideline value for Block 12 Poosari Chennimalai Gounder 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 228 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 382% over this period.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 based on the current guideline value.

Where is the Sub Registrar Office located?

The Sub Registrar Office for Block 12 Poosari Chennimalai Gounder Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for this street?

Block 12 Poosari Chennimalai Gounder Street is classified as Residential Class II Type - I.