Guideline Value for Block 17 Bhavani Street

Block 17 Bhavani Street guideline value

The current guideline value of Block 17 Bhavani Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Block 17 Bhavani Street has changed

The guideline value for Block 17 Bhavani Street has undergone several revisions over the years. The register shows that in 2002, the guideline value was Rs 571 per sq.ft, which increased to Rs 640 per sq.ft in 2003, marking a 12% rise. Following this, the value rose to Rs 750 per sq.ft in 2007, reflecting a 17% increase. The 2012 revision saw a significant jump to Rs 1,250 per sq.ft, representing a 67% increase. However, the 2017 revision brought the value down to Rs 837 per sq.ft, indicating a decrease of 33%. In 2023, the value increased to Rs 1,250 per sq.ft, and the latest revision in 2024 set it at Rs 1,375 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 141%. There are no figures available for revisions in years other than those listed above.

Guideline values in Ward C

In Ward C, there are 250 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 is Rs 1,375 per sq.ft, which is equal to the current guideline value of Block 17 Bhavani Street.

• Block 17 A.P.Thangavel Chettiar Street: Rs 2,750 per sq.ft (2024)
• Block 16 Pallapattiyar Thotta Huts: Rs 770 per sq.ft (2024)
• Block 16 New Masudi Street: Rs 2,750 per sq.ft (2024)
• Block 17 New Masjith Street: Rs 2,750 per sq.ft (2024)
• Block 17 Ottukara Chinnaian Street: Rs 1,100 per sq.ft (2024)
• Block 17 Park Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Bhavani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total to Rs 1,23,750. 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 17 Bhavani Street?

The Sub Registrar Office that covers Block 17 Bhavani 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 C

The guideline value is a crucial factor in property transactions in Ward C, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value when engaging in property transactions, as this value influences the overall costs associated with the registration process. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Block 17 Bhavani Street?

The current guideline value of Block 17 Bhavani 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 from Rs 571 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 141% over the years.

What are the other streets in Ward C with their guideline values?

Other streets in Ward C include Block 17 A.P.Thangavel Chettiar Street at Rs 2,750 per sq.ft, Block 16 Pallapattiyar Thotta Huts at Rs 770 per sq.ft, and several others, with values ranging from Rs 770 to Rs 2,750 per sq.ft.

What fees are associated with buying property in Block 17 Bhavani Street?

When buying property in Block 17 Bhavani Street, the stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 1,23,750 in fees.

Where can I find the Sub Registrar Office for Block 17 Bhavani Street?

The Erode Joint I Sub Registrar Office, which covers Block 17 Bhavani Street, is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.