Guideline Value for Block 14 Kannaian Layout

Block 14 Kannaian Layout guideline value

The current guideline value of Block 14 Kannaian Layout is Rs 770 per sq.ft, effective from 1 July 2024. This layout is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Block 14 Kannaian Layout has changed

The guideline value for Block 14 Kannaian Layout has seen several revisions over the years. In 2002, the value was Rs 131 per sq.ft, which increased to Rs 147 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 300 per sq.ft in 2007, reflecting a 104% increase. Following this, the value increased to Rs 500 per sq.ft in 2012, which was a 67% increase, but then it decreased to Rs 335 per sq.ft in 2017, showing a decline of 33%. The guideline value further increased to Rs 700 per sq.ft in 2023, representing a substantial 109% rise, and finally reached Rs 770 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 488% in the guideline value.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, indicating that the 2024 figure for Block 14 Kannaian Layout is below this median.

• Block 14 Kannaian Street 1-5: Rs 770 per sq.ft (2024)
• Block 13 Rajajipuram (Puram): Rs 770 per sq.ft (2024)
• Block 14 Rajaji Street (Puram): Rs 770 per sq.ft (2024)
• Block 13 Park Road (or) Thangavel Road: Rs 2,750 per sq.ft (2024)
• Block 14 Subbaian Street: Rs 770 per sq.ft (2024)
• Block 13 Mill Road: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Kannaian Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total 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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 14 Kannaian Layout?

The Sub Registrar Office that covers Block 14 Kannaian Layout 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 C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the current market conditions as assessed by the authorities. This value is used to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 14 Kannaian Layout?

The current guideline value of Block 14 Kannaian Layout is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 488% over this period.

What are the other streets in Ward C with the same guideline value?

Other streets in Ward C with the same guideline value of Rs 770 per sq.ft include Block 14 Kannaian Street 1-5, Block 13 Rajajipuram (Puram), Block 14 Rajaji Street (Puram), Block 14 Subbaian Street, and Block 13 Mill Road.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Block 14 Kannaian Layout is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this layout?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 53,900.