Guideline Value for Block 20 Poondurai Road

Block 20 Poondurai Road guideline value

The current guideline value for Block 20 Poondurai Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Block 20 Poondurai Road has changed

The guideline value for Block 20 Poondurai Road has undergone several revisions over the years. In 2003, the guideline value was Rs 649 per sq.ft, which increased to Rs 750 per sq.ft in 2007, marking a 16% rise. The value then saw a significant increase to Rs 1,500 per sq.ft in 2012, reflecting a 100% change. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then rose significantly to Rs 1,500 per sq.ft in 2023, and further increased to the current value of Rs 1,650 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 154%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Ward E

In Ward E under the Erode Joint I SRO, there are 196 streets with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 825 per sq.ft, placing Block 20 Poondurai Road's current value above this median.

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

Stamp duty and registration fee for property in Block 20 Poondurai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total costs together to Rs 1,48,500. 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 more detailed calculations.

Which Sub Registrar Office covers Block 20 Poondurai Road?

The Sub Registrar Office covering Block 20 Poondurai Road 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 plays a crucial role in the registration process when buying or selling property in Ward E. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives revenue from property transactions, reflecting the property's assessed value in the market.

Frequently asked questions

What is the current guideline value of Block 20 Poondurai Road?

The current guideline value of Block 20 Poondurai Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 649 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 154% over the years.

What is the land classification for Block 20 Poondurai Road?

Block 20 Poondurai Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.