Guideline Value for Block 14 Venkitta Perumal Street

Block 14 Venkitta Perumal Street guideline value

The current guideline value of Block 14 Venkitta Perumal Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 14 Venkitta Perumal Street has changed

Since the 2002 revision, the guideline value for Block 14 Venkitta Perumal Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 554 per sq.ft. This increased to Rs 622 per sq.ft in 2003, marking a 12% rise. In 2007, the value further increased to Rs 750 per sq.ft, representing a 21% change. The 2012 revision saw the value rise to Rs 1,000 per sq.ft, a 33% increase from the previous figure. However, the 2017 revision recorded a decrease, bringing the value down to Rs 670 per sq.ft, a drop of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, marking a 49% increase. Finally, the current revision for 2024 sets the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions of years not mentioned in the register for this street.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value in this area is Rs 798 per sq.ft, indicating that the guideline value for Block 14 Venkitta Perumal Street is above this median.

• Block 15 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)
• Block 14 Moshi Keeranar Street: Rs 1,375 per sq.ft (2024)
• Block 14 Marimuthur Street: Rs 1,100 per sq.ft (2024)
• Block 14 Madhava Krishna Street: Rs 1,650 per sq.ft (2024)
• Block 15 Market Lane: Rs 2,530 per sq.ft (2024)
• Block 15 Municipal Lane: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Venkitta Perumal 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, totaling Rs 99,000. It is important to note that 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 14 Venkitta Perumal Street?

The Sub Registrar Office that covers Block 14 Venkitta Perumal 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 D

The guideline value is a critical factor during the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value for Block 14 Venkitta Perumal Street?

The current guideline value for Block 14 Venkitta Perumal 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 significantly from Rs 554 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 99% over the years.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Block 14 Venkitta Perumal Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office that covers Block 14 Venkitta Perumal Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the median guideline value in Ward D?

The median guideline value in Ward D is Rs 798 per sq.ft, with Block 14 Venkitta Perumal Street's 2024 value being above this median at Rs 1,100 per sq.ft.