Guideline Value for Block 2 Vinayakar Street 1,2

Block 2 Vinayakar Street 1,2 guideline value

The current guideline value for Block 2 Vinayakar Street 1,2 is Rs 772 per sq.ft, effective from 1 July 2024. This property is located in Ward C village, under the Erode Joint I SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Block 2 Vinayakar Street 1,2 has changed

The guideline value for Block 2 Vinayakar Street 1,2 has undergone several revisions over the years. Starting from the earliest revision in 2002, the guideline value was Rs 185 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 300 per sq.ft in 2007, which was a 44% increase. Following this, the value jumped to Rs 600 per sq.ft in 2012, reflecting a 100% increase. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The value then rose to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 772 per sq.ft, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 317%. 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 with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, indicating that Block 2 Vinayakar Street 1,2's 2024 figure is below that median.

• Block 30 Alagiri Singaiyankar Street: Rs 1,100 per sq.ft (2024)
• Block 30 Kamala Street (or) Kothukara Nalla Street: Rs 825 per sq.ft (2024)
• Block 30 Kamarajar Street: Rs 2,750 per sq.ft (2024)
• Block 2 RajaGopal Garden: Rs 771 per sq.ft (2024)
• Block 2 Pachiannan Street: Rs 771 per sq.ft (2024)
• Block 30 Muncipality Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Vinayakar Street 1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value amounts to Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, and the registration fee at 2% would be Rs 15,440, bringing the total charges together to Rs 69,480. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 2 Vinayakar Street 1,2?

The Sub Registrar Office that covers Block 2 Vinayakar Street 1,2 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 details.

How the guideline value is used when you buy or sell in Ward C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware that the guideline value may differ from the actual sale price, and duty is charged on the higher of the two amounts.

Frequently asked questions

What is the current guideline value for Block 2 Vinayakar Street 1,2?

The current guideline value for Block 2 Vinayakar Street 1,2 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 185 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, reflecting an overall increase of 317% over the years.

What is the stamp duty for property in Block 2 Vinayakar Street 1,2?

The stamp duty for property in Block 2 Vinayakar Street 1,2 is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this street?

The Erode Joint I Sub Registrar Office handles registrations for Block 2 Vinayakar Street 1,2, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

Are there other streets with different guideline values in Ward C?

Yes, there are several other streets in Ward C with varying guideline values. For instance, Block 30 Alagiri Singaiyankar Street has a guideline value of Rs 1,100 per sq.ft, while Block 30 Kamala Street is valued at Rs 825 per sq.ft.