Guideline Value for Block 16 Annamalai Street

Block 16 Annamalai Street guideline value

The current guideline value of Block 16 Annamalai Street is Rs 1,100 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 II Type - I.

How the guideline value of Block 16 Annamalai Street has changed

The guideline value for Block 16 Annamalai Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 290 per sq.ft. This increased to Rs 359 per sq.ft in 2003, marking a 24% rise. Following this, the value rose to Rs 400 per sq.ft in 2007, reflecting an 11% increase. The next revision in 2012 saw a significant jump to Rs 1,000 per sq.ft, which was a 150% increase. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 279%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Ward E

In Ward E, there are 196 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 825 per sq.ft. The guideline value for Block 16 Annamalai Street is above this median.

• Block 16 Chinnusamy Road: Rs 771 per sq.ft (2024)
• Block 15 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 16 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)
• Block 15 Nethaji Road Part-1: Rs 1,375 per sq.ft (2024)
• Block 15 Kanaku Pillai Kadu: Rs 771 per sq.ft (2024)
• Block 15 Kalyanasundaram Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Annamalai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 16 Annamalai Street?

The Sub Registrar Office that covers Block 16 Annamalai 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 further assistance.

How the guideline value is used when you buy or sell in Ward E

The guideline value plays a crucial role in property transactions in Ward E. It serves as a benchmark for determining the minimum value for registration purposes, ensuring that the property is registered at a fair price. Buyers and sellers must be aware of this value as it directly affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the state revenue is adequately collected during property transfers.

Frequently asked questions

What is the current guideline value of Block 16 Annamalai Street?

The current guideline value of Block 16 Annamalai 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 290 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 279% over the years.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Block 16 Annamalai Street?

The Erode Joint I Sub Registrar Office handles the registration for Block 16 Annamalai Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties in Ward E?

The guideline value is determined based on various factors, including location and land classification, and is updated periodically by the Registration Department to reflect current market conditions.