Guideline Value for Block 16 Valaiyakara Street

Block 16 Valaiyakara Street guideline value

The current guideline value for Block 16 Valaiyakara Street is Rs 1,375 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 I Type - III.

How the guideline value of Block 16 Valaiyakara Street has changed

The guideline value for Block 16 Valaiyakara Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 811 per sq.ft. This increased to Rs 909 per sq.ft in 2003, marking a 12% rise. In 2007, the guideline value rose to Rs 1,000 per sq.ft, reflecting a 10% increase from the previous revision. The value remained at Rs 1,000 per sq.ft until 2012, when it increased to Rs 1,250 per sq.ft, a 25% rise.

In 2017, the value dropped to Rs 837 per sq.ft, which was a decrease of 33%. However, by 2023, the guideline value rose significantly to Rs 1,250 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 1,375 per sq.ft, a 10% increase from the previous year.

Guideline values in Ward D

In Ward D, the guideline values for 200 streets under the Erode Joint I SRO range 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 Valaiyakara Street is above this median.

• Block 16 R.K. Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 17 Ayyanarappan Kovil Street 1,2,3a: Rs 825 per sq.ft (2024)
• Block 17 Cauvery Road: Rs 3,300 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 16 Municipal Street No 2: Rs 2,530 per sq.ft (2024)
• Block 17 Jayaram Lane: Rs 770 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, while the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. It is important to note that 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 information.

Which Sub Registrar Office covers Block 16 Valaiyakara Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Ward D. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value for Block 16 Valaiyakara Street?

The current guideline value for Block 16 Valaiyakara Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 811 per sq.ft in 2002 and reaching Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 70% since 2002.

What is the classification of Block 16 Valaiyakara Street?

Block 16 Valaiyakara Street is classified as Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Block 16 Valaiyakara Street 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 area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,75,000 would incur a stamp duty of Rs 96,250 at a rate of 7%.