Guideline Value for Block 19 East Kongalamman Kovil Street

Block 19 East Kongalamman Kovil Street guideline value

The current guideline value of Block 19 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 19 East Kongalamman Kovil Street has changed

Over the years, the guideline value for Block 19 East Kongalamman Kovil Street has seen significant changes. In 2002, the guideline value was Rs 481 per sq.ft. It increased to Rs 539 per sq.ft in 2003, marking a 12% rise. The value continued to rise to Rs 1,000 per sq.ft in 2007, reflecting an 86% increase. By 2012, the value was Rs 2,500 per sq.ft, which was a 150% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, representing a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 472% for Block 19 East Kongalamman Kovil 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. The median value for these streets is Rs 1,375 per sq.ft, placing Block 19 East Kongalamman Kovil Street's 2024 figure above that median.

• Block 19 Hasan Street: Rs 1,375 per sq.ft (2024)
• Block 18 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 18 Sultan Pettai Street: Rs 2,750 per sq.ft (2024)
• Block 19 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 18 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 19 R.K.Venkatasamy Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 East 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 amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 19 East Kongalamman Kovil Street?

The Sub Registrar Office that covers Block 19 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 a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that all parties involved are aware of the financial obligations tied to the transaction.

Frequently asked questions

What is the current guideline value for Block 19 East Kongalamman Kovil Street?

The current guideline value for Block 19 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 changed significantly from Rs 481 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 472% over this period.

What are the stamp duty and registration fees for this property?

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for this street?

The Erode Joint I Sub Registrar Office handles the registration for Block 19 East Kongalamman Kovil Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value used in property transactions?

The guideline value is used to establish the minimum registration value for property transactions and is essential for calculating the applicable stamp duty and registration fees during the transfer of ownership.