Guideline Value for Block 21 East Kongalamman Kovil Street Part 2

Block 21 East Kongalamman Kovil Street Part 2 guideline value

The current guideline value of Block 21 East Kongalamman Kovil Street Part 2 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 21 East Kongalamman Kovil Street Part 2 has changed

The guideline value for Block 21 East Kongalamman Kovil Street Part 2 has undergone several revisions over the years. In 2002, the guideline value was Rs 608 per sq.ft, which increased to Rs 681 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, which was a 47% increase from the previous figure. In 2012, the value was Rs 2,500 per sq.ft, reflecting a significant 150% increase from 2007. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, which represented a 33% drop.

In 2023, the guideline value rose again to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, showing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 352%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 21 East Kongalamman Kovil Street Part 2 above this median.

• Block 21 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 21 Nethaji Street Part 2: Rs 5,500 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• 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 Sultan Pettai Street Part 2: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 East Kongalamman Kovil Street Part 2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 21 East Kongalamman Kovil Street Part 2?

The Sub Registrar Office that covers Block 21 East Kongalamman Kovil Street Part 2 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 critical factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property transaction takes place, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Block 21 East Kongalamman Kovil Street Part 2?

The current guideline value for Block 21 East Kongalamman Kovil Street Part 2 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 significantly from Rs 608 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 352% over this period.

What is the land classification for this street?

Block 21 East Kongalamman Kovil Street Part 2 is classified as Commercial Class I Type - III.

Where is the Sub Registrar Office located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,92,500.