Guideline Value for Block 18 Mandi Street (Pon Street)

Block 18 Mandi Street (Pon Street) guideline value

The current guideline value of Block 18 Mandi Street (Pon Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Ward D village and falls under the Erode Joint I SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Block 18 Mandi Street (Pon Street) has changed

The guideline value for Block 18 Mandi Street (Pon Street) has seen several revisions over the years. In 2002, the guideline value was Rs 939 per sq.ft, which increased to Rs 1,054 per sq.ft in 2003. Following that, the value rose significantly to Rs 2,500 per sq.ft in 2007, and then to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value then increased to Rs 6,000 per sq.ft in 2023, and finally, it stands at Rs 6,600 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 603%. Each revision reflects changes in the market conditions and land classification, with no figures available for the years not listed in the register.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft as of 2024. The median guideline value in this area is Rs 798 per sq.ft, placing Block 18 Mandi Street (Pon Street) above this median.

• Block 18 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 18 Mariamman Kovil Street: Rs 1,100 per sq.ft (2024)
• Block 18 Nethaji Street: Rs 4,400 per sq.ft (2024)
• Block 18 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 18 Agrahara Street: Rs 2,200 per sq.ft (2024)
• Block 17 Valaiyakara Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Mandi Street (Pon Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 18 Mandi Street (Pon Street)?

The Sub Registrar Office covering Block 18 Mandi Street (Pon 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 details.

How the guideline value is used when you buy or sell in Ward D

The guideline value is crucial when registering property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction is accurately recorded and taxed according to the established rates.

Frequently asked questions

What is the current guideline value of Block 18 Mandi Street (Pon Street)?

The current guideline value of Block 18 Mandi Street (Pon Street) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 939 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 603% over the years.

What are the stamp duty and registration fees for property in Block 18 Mandi Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Block 18 Mandi Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 18 Mandi Street (Pon Street), located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 18 Mandi Street?

The land classification for Block 18 Mandi Street (Pon Street) is Commercial Special Type - II, which may impact its usage and valuation.