Guideline Value for Block 14 Kannaian Street 1-5

Block 14 Kannaian Street 1-5 guideline value

The current guideline value for Block 14 Kannaian Street 1-5 is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C village and falls under the Erode Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Block 14 Kannaian Street 1-5 has changed

The guideline value for Block 14 Kannaian Street has undergone several revisions over the years. In 2002, the guideline value was Rs 131 per sq.ft, which increased to Rs 147 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 300 per sq.ft in 2007, reflecting an increase of +104%. Following this, the value increased to Rs 500 per sq.ft in 2012, which was a rise of +67%. However, it saw a decrease to Rs 335 per sq.ft in 2017, a change of -33%. The guideline value then surged to Rs 700 per sq.ft in 2023, representing a significant increase of +109%. Finally, the current value stands at Rs 770 per sq.ft from the 2024 revision, which is an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +488%. There are no figures available for revisions in years other than those specified.

Guideline values in Ward C

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

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

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 fees to Rs 69,300. 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 accurate calculations.

Which Sub Registrar Office covers Block 14 Kannaian Street 1-5?

The Sub Registrar Office that covers Block 14 Kannaian Street 1-5 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 of property transactions in Ward C. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transfer of ownership. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 14 Kannaian Street 1-5?

The current guideline value for Block 14 Kannaian Street 1-5 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 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, marking an overall increase of +488% over the years.

What is the stamp duty for property in Block 14 Kannaian Street 1-5?

The stamp duty for a property in Block 14 Kannaian Street 1-5 is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Block 14 Kannaian Street 1-5 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 14 Kannaian Street 1-5?

The land classification for Block 14 Kannaian Street 1-5 is Residential Class III Type - II, indicating its designated use for residential purposes.