Guideline Value for Block 18 East Kongalamman Kovil Street

Block 18 East Kongalamman Kovil Street guideline value

The current guideline value for Block 18 East Kongalamman Kovil 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 18 East Kongalamman Kovil Street has changed

The guideline value for Block 18 East Kongalamman Kovil Street has seen several revisions over the years. In 2002, the guideline value was Rs 480 per sq.ft, which increased to Rs 538 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, representing an 86% increase. Following this, the value climbed to Rs 2,500 per sq.ft in 2012, reflecting a substantial 150% increase from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value surged to Rs 2,500 per sq.ft, indicating a 49% increase. The latest revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in years other than those stated.

Guideline values in Ward C

Ward C village has a range of guideline values for its 250 streets, with figures for 2024 ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this ward is Rs 1,375 per sq.ft, placing Block 18 East Kongalamman Kovil Street's 2024 figure above this median.

• Block 18 Cauvery Road Main Road: Rs 5,500 per sq.ft (2024)
• Block 18 Kandasamy Street: Rs 2,750 per sq.ft (2024)
• Block 18 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 18 Sultan Pettai Street: Rs 2,750 per sq.ft (2024)
• Block 17 Park Street: Rs 2,750 per sq.ft (2024)
• Block 17 Ottukara Chinnaian Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 East Kongalamman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 18 East Kongalamman Kovil Street?

The Sub Registrar Office that covers Block 18 East Kongalamman Kovil 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 an important factor when registering property transactions in Ward C. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps in determining the legal obligations for both parties involved in the transaction. It is essential to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value for Block 18 East Kongalamman Kovil Street?

The current guideline value for Block 18 East Kongalamman Kovil 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 increased from Rs 480 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 473% over the years.

What is the land classification for Block 18 East Kongalamman Kovil Street?

Block 18 East Kongalamman Kovil Street is classified as Commercial Class I Type - III.

Where can I find the registration office for this area?

The registration office for Block 18 East Kongalamman Kovil Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.