Guideline Value for Block 19 West Kongalamman Kovil Street

Block 19 West Kongalamman Kovil Street guideline value

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

The guideline value for Block 19 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 decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,750 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The value saw a significant jump of 150% from 2007 to 2012. The overall change from 2002 to 2024 reflects an increase of 473%. There are no figures available for revisions in years not listed in the register for this 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 19 West Kongalamman Kovil Street is above this median.

• Block 1 Cavuery Road Main Road: Rs 825 per sq.ft (2024)
• Block 19 R.K.Venkatasamy Road: Rs 7,700 per sq.ft (2024)
• Block 1 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 19 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 1 Krishnan Street: Rs 772 per sq.ft (2024)
• Block 1 Maniyar Thottam: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Block 19 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 when registering property transactions in Ward C. It serves as the basis for calculating the stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements set by the state.

When a property is bought or sold, the guideline value helps determine the official value of the transaction. This value is used to assess the appropriate taxes and fees that must be paid during the registration process, ensuring transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value for Block 19 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 significantly over the years, from Rs 480 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 473%.

What is the classification of Block 19 West Kongalamman Kovil Street?

Block 19 West Kongalamman Kovil Street is classified as Commercial Class I Type - III.

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

The Sub Registrar Office for Block 19 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.