Guideline Value for Block 20 West Kongalamman Kovil Street

Block 20 West Kongalamman Kovil Street guideline value

The current guideline value for Block 20 West Kongalamman Kovil 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 is classified as Commercial Class I Type - III.

How the guideline value of Block 20 West Kongalamman Kovil Street has changed

The guideline value for Block 20 West Kongalamman Kovil Street has undergone several revisions over the years. Starting from Rs 648 per sq.ft in 2002, it increased to Rs 726 per sq.ft in 2003, marking a 12% increase. The value then rose to Rs 1,000 per sq.ft in 2007, a significant increase of 38%. Following this, the value surged to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 324%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ward C

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

• Block 20 Venkatasalam Street: Rs 2,750 per sq.ft (2024)
• Block 20 Veerapathra Chettiar St: Rs 2,750 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: 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 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 West 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, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Block 20 West 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 when registering property transactions in Ward C. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official value set by the Registration Department.

Frequently asked questions

What is the current guideline value for Block 20 West Kongalamman Kovil Street?

The current guideline value for Block 20 West 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 seen various revisions, starting from Rs 648 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 324% over this period.

What is the classification of Block 20 West Kongalamman Kovil Street?

Block 20 West Kongalamman Kovil Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for this street?

The Erode Joint I Sub Registrar Office handles registrations for Block 20 West Kongalamman Kovil Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.