Guideline Value for Block 17 Park Street

Block 17 Park Street guideline value

The current guideline value for Block 17 Park Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 17 Park Street has changed

The guideline value for Block 17 Park Street has undergone several revisions over the years. In 2002, the guideline value was Rs 571 per sq.ft, which increased to Rs 828 per sq.ft in 2003, marking a rise of 45%. By 2007, the value further increased to Rs 1,500 per sq.ft, reflecting an 81% change. The value then saw a significant rise to Rs 2,500 per sq.ft in 2012, which was a 67% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, representing a decline of 33%. The guideline value then rose again to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 382%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as of 2024, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 17 Park Street is above this median.

• Block 17 Ottukara Chinnaian Street: Rs 1,100 per sq.ft (2024)
• Block 17 New Masjith Street: Rs 2,750 per sq.ft (2024)
• Block 17 Bhavani Street: Rs 1,375 per sq.ft (2024)
• Block 18 Cauvery Road Main Road: Rs 5,500 per sq.ft (2024)
• Block 17 A.P.Thangavel Chettiar Street: Rs 2,750 per sq.ft (2024)
• Block 18 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Park 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 calculated at 7%, which comes to Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Together, the total cost for stamp duty and registration fee is Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Block 17 Park Street?

The Sub Registrar Office that covers Block 17 Park 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 the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value will be used to calculate the applicable fees, ensuring compliance with local regulations. Buyers and sellers should be aware of these values to understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Block 17 Park 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 changed from Rs 571 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 382% across the years.

What is the classification of Block 17 Park Street?

Block 17 Park Street is classified as Commercial Class I Type - III under the Erode Joint I SRO.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Block 17 Park Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 17 Park Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.