Guideline Value for Block 17 Sambasiva Pillai Street

Block 17 Sambasiva Pillai Street guideline value

The current guideline value for Block 17 Sambasiva Pillai Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 17 Sambasiva Pillai Street has changed

The guideline value for Block 17 Sambasiva Pillai Street has seen several revisions over the years. In 2002, the value was Rs 235 per sq.ft, which increased to Rs 266 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007, an increase of +32%. By 2012, the value was Rs 500 per sq.ft, reflecting a +43% change. However, in 2017, the value decreased to Rs 335 per sq.ft, showing a decline of -33%. The value then saw a significant increase to Rs 700 per sq.ft in 2023, which was a +109% change. The most recent revision in 2024 set the value at Rs 771 per sq.ft, an increase of +10% from the previous year.

There are no figures available for revisions in years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +228%.

Guideline values in Ward E

In Ward E, there are 196 streets 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 17 Sambasiva Pillai Street is below this median.

• Block 17 Rajaji Street: Rs 825 per sq.ft (2024)
• Block 17 Srinivasa Mudhaliar Street: Rs 771 per sq.ft (2024)
• Block 17 Railway Station Street: Rs 825 per sq.ft (2024)
• Block 17 Venkitaraman Street: Rs 771 per sq.ft (2024)
• Block 17 Municipal Street: Rs 771 per sq.ft (2024)
• Block 17 Kadhar Moydhin Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Sambasiva Pillai Street

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 17 Sambasiva Pillai Street?

The Sub Registrar Office that covers Block 17 Sambasiva Pillai 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 E

The guideline value is a critical factor in the registration process when buying or selling property in Ward E. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is legally recognized and recorded.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 17 Sambasiva Pillai Street?

The current guideline value for Block 17 Sambasiva Pillai Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 235 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of +228% over the years.

What is the stamp duty rate for property in this area?

The stamp duty rate for property in Block 17 Sambasiva Pillai Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

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

What other streets have similar guideline values in Ward E?

Other streets in Ward E with similar guideline values include Block 17 Srinivasa Mudhaliar Street, Block 17 Venkitaraman Street, and Block 17 Municipal Street, all at Rs 771 per sq.ft for 2024.