Guideline Value for Block 18 Sultan Pettai Street

Block 18 Sultan Pettai Street guideline value

The current guideline value of Block 18 Sultan Pettai 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 it falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 18 Sultan Pettai Street has changed

The guideline value for Block 18 Sultan Pettai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 443 per sq.ft, which increased to Rs 497 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 750 per sq.ft in 2007, representing a 51% jump. Following this, the value surged to Rs 2,500 per sq.ft in 2012, showing a remarkable increase of 233%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 521%, showcasing the changes over the years in Block 18 Sultan Pettai Street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 18 Sultan Pettai Street is above this median.

• Block 18 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 18 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 19 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 18 Kandasamy Street: Rs 2,750 per sq.ft (2024)
• Block 19 Hasan Street: Rs 1,375 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 18 Sultan Pettai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 18 Sultan Pettai Street?

The Sub Registrar Office that covers Block 18 Sultan Pettai Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the 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 critical factor when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value helps in calculating the necessary fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Block 18 Sultan Pettai Street?

The current guideline value of Block 18 Sultan Pettai 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 seen several revisions, starting from Rs 443 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 521% over the years.

What is the stamp duty for properties in Block 18 Sultan Pettai Street?

The stamp duty for properties in Block 18 Sultan Pettai Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Block 18 Sultan Pettai Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What are the guideline values for other streets in Ward C?

Other streets in Ward C have varying guideline values, with some streets like Block 18 West Kongalamman Kovil Street and Block 18 New Majith Street also having a guideline value of Rs 2,750 per sq.ft in 2024.