Guideline Value for Block 18 Vasugi Street (or) Edayan Kattu Thottam

Block 18 Vasugi Street (or) Edayan Kattu Thottam guideline value

The current guideline value of Block 18 Vasugi Street (or) Edayan Kattu Thottam is Rs 1,375 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 18 Vasugi Street (or) Edayan Kattu Thottam has changed

The guideline value for Block 18 Vasugi Street (or) Edayan Kattu Thottam has undergone several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This figure increased to Rs 560 per sq.ft in 2003, marking a significant rise of 433%. The value continued to climb, reaching Rs 750 per sq.ft in 2007, which was a 34% increase from the previous revision. In 2012, the value was recorded at Rs 1,250 per sq.ft, reflecting a 67% increase. However, this figure dropped to Rs 837 per sq.ft in 2017, a decrease of 33%. The guideline value then saw a substantial increase to Rs 1,250 per sq.ft in 2023, before reaching the current value of Rs 1,375 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1210%. Notably, there are no figures recorded for this street in the revisions for the years not mentioned above.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, which is equal to the current guideline value of Block 18 Vasugi Street (or) Edayan Kattu Thottam.

• Block 18 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 19 Chinnamuthu Street: Rs 1,100 per sq.ft (2024)
• Block 18 Sait Colony: Rs 2,750 per sq.ft (2024)
• Block 19 E.V.Najappa Road Inside: Rs 2,750 per sq.ft (2024)
• Block 19 E.V.Nanjappa Road: Rs 6,600 per sq.ft (2024)
• Block 19 Municipal Colony Road 1 to 5: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Vasugi Street (or) Edayan Kattu Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total cost for these fees to Rs 1,23,750. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 18 Vasugi Street (or) Edayan Kattu Thottam?

The Sub Registrar Office that covers Block 18 Vasugi Street (or) Edayan Kattu Thottam 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 A

The guideline value plays a crucial role in the registration process when buying or selling property in Ward A. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that the guideline value is set by the government and reflects the minimum value at which properties can be registered in the area.

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

Frequently asked questions

What is the current guideline value of Block 18 Vasugi Street (or) Edayan Kattu Thottam?

The current guideline value of Block 18 Vasugi Street (or) Edayan Kattu Thottam is Rs 1,375 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 105 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 1210% over this period.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value as it affects the overall cost of the transaction.

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

The Sub Registrar Office for Block 18 Vasugi Street (or) Edayan Kattu Thottam is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What are the other streets in Ward A and their guideline values?

Other streets in Ward A include Block 18 Thillai Nagar at Rs 2,530 per sq.ft, Block 19 Chinnamuthu Street at Rs 1,100 per sq.ft, and several others, with values ranging from Rs 770 to Rs 6,600 per sq.ft.