Guideline Value for Block 17 Venkitaraman Street

Block 17 Venkitaraman Street guideline value

The current guideline value of Block 17 Venkitaraman 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 Venkitaraman Street has changed

The guideline value for Block 17 Venkitaraman Street has seen several revisions over the years. In 2002, the guideline value was Rs 289 per sq.ft. This increased to Rs 327 per sq.ft in 2003, marking a rise of 13%. The value then saw a modest increase to Rs 350 per sq.ft in 2007, which was a 7% increase. Following that, the value rose significantly to Rs 500 per sq.ft in 2012, reflecting a 43% increase. However, it then dropped to Rs 335 per sq.ft in 2017, which was a decrease of 33%. The value surged to Rs 700 per sq.ft in 2023, showing a remarkable increase of 109%. Finally, the current value stands at Rs 771 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions of this street in the years not mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 167%.

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 Venkitaraman Street is below this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 17 Venkitaraman Street?

The Sub Registrar Office that covers Block 17 Venkitaraman 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 plays a crucial role in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Block 17 Venkitaraman 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 from Rs 289 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 167% over the years.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 69,390, based on the current guideline value of Rs 7,71,000.

Which office handles the registration for Block 17 Venkitaraman Street?

The registration for Block 17 Venkitaraman Street is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties in Ward E?

The guideline value is determined by the Registration Department and is based on various factors, including the location and type of property. It serves as a standard for property transactions in the area.