Guideline Value for Block 20 Pattakkar Street

Block 20 Pattakkar Street guideline value

The current guideline value for Block 20 Pattakkar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Block 20 Pattakkar Street has changed

Since 2002, the guideline value for Block 20 Pattakkar Street has seen significant changes. In 2002, the guideline value was Rs 221 per sq.ft. It increased to Rs 250 per sq.ft in 2003, marking a change of +13%. The value rose to Rs 350 per sq.ft in 2007, which was a 40% increase. Following this, the guideline value surged to Rs 1,000 per sq.ft in 2012, reflecting a remarkable increase of +186%. However, it dropped to Rs 670 per sq.ft in 2017, a decrease of -33%. The value then increased to Rs 1,000 per sq.ft in 2023, followed by a rise to the current rate of Rs 1,100 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +398%. There are no figures available for the revisions from years other than those stated.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, making the 2024 figure for Block 20 Pattakkar Street above that median.

• Block 20 Periyapallam Huts: Rs 771 per sq.ft (2024)
• Block 20 Nethaji Road Part-1: Rs 1,375 per sq.ft (2024)
• Block 20 Poondurai Road: Rs 1,650 per sq.ft (2024)
• Block 20 South Valluvar Street (Sambandar Street): Rs 771 per sq.ft (2024)
• Block 20 Jeevanandham Road: Rs 1,100 per sq.ft (2024)
• Block 20 Vannara Street (Porkai Pandian Street): Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Pattakkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 20 Pattakkar Street?

The Sub Registrar Office that covers Block 20 Pattakkar Street 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 E

The guideline value is a crucial factor during the registration of property transactions in Ward E. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Block 20 Pattakkar Street?

The current guideline value for Block 20 Pattakkar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 221 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +398% over the years.

What is the land classification for Block 20 Pattakkar Street?

Block 20 Pattakkar Street falls under the Residential Class II Type - I land classification.

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

The Sub Registrar Office for Block 20 Pattakkar Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is 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 11,00,000, the stamp duty at 7% would be Rs 77,000.