Guideline Value for Block 16 Jinna Street

Block 16 Jinna Street guideline value

The current guideline value of Block 16 Jinna Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, and it falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 16 Jinna Street has changed

The guideline value for Block 16 Jinna Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 988 per sq.ft. This increased to Rs 1,107 per sq.ft in 2003, marking a 12% rise. The value then rose by 13% to Rs 1,250 per sq.ft in 2007. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a significant 100% increase from the previous revision. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017. The guideline value then increased substantially to Rs 2,500 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 2,750 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 178%. There are no figures available for revisions in years other than those listed.

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, with a median value of Rs 798 per sq.ft. The guideline value for Block 16 Jinna Street is above this median.

• Block 16 Market Road: Rs 2,530 per sq.ft (2024)
• Block 16 Cauvery Road: Rs 3,300 per sq.ft (2024)
• Block 16 Municipal Lane No 1: Rs 2,530 per sq.ft (2024)
• Block 16 Municipal Street No 2: Rs 2,530 per sq.ft (2024)
• Block 16 Agrahara Street: Rs 2,200 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, which totals Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Therefore, the total cost for stamp duty and registration fee combined is Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Block 16 Jinna Street?

The Sub Registrar Office that covers Block 16 Jinna 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 more information.

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

The guideline value is an essential factor when registering property in Ward D. It determines the amount of stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. It is important to note that the stamp duty and registration fees are charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Block 16 Jinna Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, increasing from Rs 988 in 2002 to Rs 2,750 in 2024. Notable changes include a rise to Rs 1,675 in 2017, followed by an increase to Rs 2,500 in 2023.

What is the land classification for Block 16 Jinna Street?

Block 16 Jinna Street falls under the Commercial Class I Type - III land classification.

Where can I find the registration office for Block 16 Jinna Street?

The registration office for Block 16 Jinna Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in Ward D?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.