Guideline Value for Block 20 Venkatasalam Street

Block 20 Venkatasalam Street guideline value

The current guideline value of Block 20 Venkatasalam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it is classified as Commercial Class I Type - III.

How the guideline value of Block 20 Venkatasalam Street has changed

The guideline value for Block 20 Venkatasalam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,216 per sq.ft, which increased to Rs 1,362 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 1,500 per sq.ft in 2007, an increase of 10%. By 2012, the value reached Rs 2,500 per sq.ft, reflecting a 67% increase from the previous revision. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. Following this, the guideline value surged to Rs 2,500 per sq.ft in 2023, which was a significant increase of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 126%. There are no figures available for any other years for this street in the register.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as per the 2024 revision, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 20 Venkatasalam Street is above this median.

• Block 20 Veerapathra Chettiar St: Rs 2,750 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 20 Sengoda Street: Rs 2,750 per sq.ft (2024)
• Block 20 R.K.Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 21 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Venkatasalam 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, calculated at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Block 20 Venkatasalam Street?

The Sub Registrar Office that covers Block 20 Venkatasalam 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 C

The guideline value is an essential factor in property transactions in Ward C, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on the official valuation rather than the sale price.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value. This ensures a transparent and standardized approach to property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 20 Venkatasalam Street?

The current guideline value of Block 20 Venkatasalam 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 several times, starting from Rs 1,216 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 126% over this period.

What is the land classification for Block 20 Venkatasalam Street?

Block 20 Venkatasalam Street is classified as Commercial Class I Type - III.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Block 20 Venkatasalam Street 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?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.