Guideline Value for Block 18 West Kongalamman Kovil Street

Block 18 West Kongalamman Kovil Street guideline value

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

The guideline value for Block 18 West Kongalamman Kovil Street has seen several revisions over the years. In 2002, the value was Rs 480 per sq.ft, which increased to Rs 538 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 12% from 2002 to 2003, followed by an 86% rise from 2003 to 2007. The value then saw a 150% increase from 2007 to 2012, but a decrease of 33% occurred from 2012 to 2017. The value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 473%.

Guideline values in Ward C

In Ward C, there are 250 streets 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 West Kongalamman Kovil Street is above this median.

• Block 18 Sultan Pettai Street: Rs 2,750 per sq.ft (2024)
• Block 19 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 19 Hasan Street: Rs 1,375 per sq.ft (2024)
• Block 18 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 18 Kandasamy Street: Rs 2,750 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 West Kongalamman Kovil 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 be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Block 18 West 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 a crucial factor during the registration process of property transactions in Ward C. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, it is important to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 18 West Kongalamman Kovil Street?

The current guideline value of Block 18 West 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 changed 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 are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Block 18 West Kongalamman Kovil Street?

The Erode Joint I Sub Registrar Office handles the registration for Block 18 West Kongalamman Kovil Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for this street?

Block 18 West Kongalamman Kovil Street is classified as Commercial Class I Type - III, indicating its use for commercial purposes.