Guideline Value for Block 2 Ponnusamy Theru

Block 2 Ponnusamy Theru guideline value

The current guideline value for Block 2 Ponnusamy Theru is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Ward D village under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 2 Ponnusamy Theru has changed

The guideline value for Block 2 Ponnusamy Theru has undergone several revisions over the years. In 2003, the guideline value was Rs 266 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following that, the value rose to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. The value then saw a significant increase to Rs 700 per sq.ft in 2023, and is now set at Rs 770 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the increase was 109%, while the change from 2012 to 2017 was a decrease of 33%. The value increased by 43% from 2007 to 2012, and by 32% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 189%.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft. The guideline value for Block 2 Ponnusamy Theru is below this median.

• Block 2 Ranga Bavan Street: Rs 771 per sq.ft (2024)
• Block 2 New Cauvery Road: Rs 771 per sq.ft (2024)
• Block 2 Veerappa Street: Rs 770 per sq.ft (2024)
• Block 2 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 2 Karungalpalayam Vaykal Marapalam Road: Rs 825 per sq.ft (2024)
• Block 2 Arumugam Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Ponnusamy Theru

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 2 Ponnusamy Theru?

The Sub Registrar Office covering Block 2 Ponnusamy Theru 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 D

The guideline value is a critical factor during property registration in Ward D. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When buying or selling property, both the buyer and seller should be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Ensuring that the property is registered at the correct guideline value helps in avoiding any legal complications in the future.

Frequently asked questions

What is the current guideline value for Block 2 Ponnusamy Theru?

The current guideline value for Block 2 Ponnusamy Theru is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 266 per sq.ft in 2003 and reaching Rs 770 per sq.ft in 2024, marking an overall increase of 189% from 2003 to 2024.

What is the median guideline value in Ward D?

The median guideline value in Ward D is Rs 798 per sq.ft, with Block 2 Ponnusamy Theru's value being below this median.

What are the stamp duty and registration fees for property in Block 2 Ponnusamy Theru?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,300, which includes a stamp duty of Rs 53,900 and a registration fee of Rs 15,400.

Which office handles property registration for Block 2 Ponnusamy Theru?

The Erode Joint I Sub Registrar Office handles property registration for Block 2 Ponnusamy Theru, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.