Guideline Value for Block 2 Krishnan Street

Block 2 Krishnan Street guideline value

The current guideline value of Block 2 Krishnan Street is Rs 772 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 Residential Class II Type - III land classification.

How the guideline value of Block 2 Krishnan Street has changed

The guideline value for Block 2 Krishnan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 149 per sq.ft. This increased to Rs 167 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 200 per sq.ft in 2007, which was a significant increase of +20%. Following this, in 2012, the value changed to Rs 600 per sq.ft, reflecting a substantial increase of +200%. However, it decreased to Rs 402 per sq.ft in 2017, which was a decline of -33%. The guideline value saw a notable increase again to Rs 700 per sq.ft in 2023, and most recently, it has risen to Rs 772 per sq.ft in 2024, showing an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +418%. There are no figures available for the revisions in years other than those listed above.

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 2 Krishnan Street is below this median.

• Block 2 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 2 Pachiamman Street 1,2: Rs 771 per sq.ft (2024)
• Block 2 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 2 Pachiannan Street: Rs 771 per sq.ft (2024)
• Block 2 Cauvery Raod Main Road: Rs 825 per sq.ft (2024)
• Block 2 RajaGopal Garden: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value would be Rs 7,72,000. The stamp duty at 7% would amount to Rs 54,040, and the registration fee at 2% would be Rs 15,440, bringing the total to Rs 69,480. 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 further calculations.

Which Sub Registrar Office covers Block 2 Krishnan Street?

The Sub Registrar Office that covers Block 2 Krishnan 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 an essential factor in property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. The guideline value is used to ensure that the registration process is transparent and fair, reflecting the property's worth as assessed by the authorities.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the financial obligations related to the registration. It is crucial to be aware of the current guideline value to ensure compliance with the legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Block 2 Krishnan Street?

The current guideline value of Block 2 Krishnan Street is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 149 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, reflecting an overall increase of +418% over the years.

What are the stamp duty and registration fees for property in Block 2 Krishnan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,72,000. The stamp duty at 7% is Rs 54,040, and the registration fee at 2% is Rs 15,440, totaling Rs 69,480.

Which Sub Registrar Office covers Block 2 Krishnan Street?

The Erode Joint I Sub Registrar Office covers Block 2 Krishnan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for assessing the property's worth and ensures compliance with legal requirements during the registration process.