Guideline Value for Block 21 Krishnasamy Street

Block 21 Krishnasamy Street guideline value

The current guideline value of Block 21 Krishnasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 21 Krishnasamy Street has changed

The guideline value for Block 21 Krishnasamy Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft. This increased to Rs 359 per sq.ft in 2003, marking a significant rise of 242%. The value continued to increase to Rs 500 per sq.ft in 2007, which was a 39% increase. The 2012 revision saw the value at Rs 1,000 per sq.ft, reflecting a 100% increase from the previous revision. However, the 2017 revision brought the value down to Rs 670 per sq.ft, a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, which was a 49% increase. Finally, the current value is Rs 1,100 per sq.ft as per the 2024 revision, showing a 10% increase from the previous year.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Block 21 Krishnasamy Street's 2024 figure below that median.

• Block 21 Chinnamuthu Street Main Road: Rs 1,375 per sq.ft (2024)
• Block 21 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)
• Block 20 Varanavasi Street: Rs 825 per sq.ft (2024)
• Block 20 Thiru.V.K.Street: Rs 1,375 per sq.ft (2024)
• Block 22 Chinnamuthu Street -3 2nd Part: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Krishnasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 21 Krishnasamy Street?

The Sub Registrar Office that covers Block 21 Krishnasamy 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 A

The guideline value is a crucial factor in property transactions in Ward A, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value per sq.ft.

Frequently asked questions

What is the current guideline value of Block 21 Krishnasamy Street?

The current guideline value of Block 21 Krishnasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 948% over the years.

What are the stamp duty and registration fees for this property?

For a property of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 21 Krishnasamy Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 21 Krishnasamy Street?

Block 21 Krishnasamy Street is classified as Residential Class II Type - I, indicating its suitability for residential development.