Guideline Value for Block 20 East Kongalamman Kovil Street

Block 20 East Kongalamman Kovil Street guideline value

The current guideline value of Block 20 East Kongalamman Kovil Street is Rs 2,750 per sq.ft. 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 20 East Kongalamman Kovil Street has changed

The guideline value for Block 20 East Kongalamman Kovil Street has seen several revisions over the years. In 2002, the guideline value was Rs 661 per sq.ft. This increased to Rs 741 per sq.ft in 2003, marking a 12% rise. The value continued to rise to Rs 1,000 per sq.ft in 2007, a 35% increase from the previous revision. In 2012, the value was Rs 2,500 per sq.ft, which represented a significant 150% increase from 2007. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The value then rose again to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 316%. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with 2024 guideline values 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, placing Block 20 East Kongalamman Kovil Street's 2024 figure above that median.

• Block 20 Easwaran Kovil Lane: Rs 2,750 per sq.ft (2024)
• Block 1 Vandiuran Kovil Street: Rs 771 per sq.ft (2024)
• Block 1 Royal Lay out: Rs 771 per sq.ft (2024)
• Block 20 Nethaji Road Part 1: Rs 5,500 per sq.ft (2024)
• Block 1 RajaGopal Thottam: Rs 771 per sq.ft (2024)
• Block 1 Patchiamman Koil St: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 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 fees would be 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 further assistance.

Which Sub Registrar Office covers Block 20 East Kongalamman Kovil Street?

The Sub Registrar Office that covers Block 20 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 is used to calculate the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for determining the minimum value on which the stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 20 East Kongalamman Kovil Street?

The current guideline value of Block 20 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 from Rs 661 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 316% over this period.

What is the land classification for Block 20 East Kongalamman Kovil Street?

Block 20 East 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 20 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.

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

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