Guideline Value for Block 20 Vannara Street (Porkai Pandian Street)

Block 20 Vannara Street (Porkai Pandian Street) guideline value

The current guideline value for Block 20 Vannara Street (Porkai Pandian Street) is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 20 Vannara Street (Porkai Pandian Street) has changed

The guideline value for Block 20 Vannara Street (Porkai Pandian Street) has seen several revisions over the years. In the 2002 revision, the value was Rs 240 per sq.ft, which increased to Rs 272 per sq.ft in 2003, marking a 13% rise. The value then increased to Rs 350 per sq.ft in 2007, a 29% change, followed by a significant jump to Rs 500 per sq.ft in 2012, which was a 43% increase. However, the value decreased to Rs 335 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision saw the value rise to Rs 700 per sq.ft, a 109% increase from 2017, and the most recent 2024 revision set the value at Rs 771 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for revisions other than those listed. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 221%.

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, with a median value of Rs 825 per sq.ft. The guideline value for Block 20 Vannara Street (Porkai Pandian Street) is below this median.

• Block 20 South Valluvar Street (Sambandar Street): Rs 771 per sq.ft (2024)
• Block 20 Vetnari Hospital Road: Rs 2,750 per sq.ft (2024)
• Block 20 Poondurai Road: Rs 1,650 per sq.ft (2024)
• Block 20 Periyapallam Huts: Rs 771 per sq.ft (2024)
• Block 20 Pattakkar Street: Rs 1,100 per sq.ft (2024)
• Block 21 Chidhambaranar Street: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Vannara Street (Porkai Pandian Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total cost for these fees Rs 69,390. 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 Vannara Street (Porkai Pandian Street)?

The Sub Registrar Office that covers Block 20 Vannara Street (Porkai Pandian 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 E

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for Block 20 Vannara Street (Porkai Pandian Street)?

The current guideline value for Block 20 Vannara Street (Porkai Pandian Street) is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 240 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 221% over this period.

What is the land classification for Block 20 Vannara Street (Porkai Pandian Street)?

Block 20 Vannara Street (Porkai Pandian Street) is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Block 20 Vannara Street (Porkai Pandian Street) is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 69,390.