Guideline Value for Block 21 Sultan Pettai Street Part 2

Block 21 Sultan Pettai Street Part 2 guideline value

The current guideline value of Block 21 Sultan Pettai Street Part 2 is Rs 1,375 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 Residential Class I Type - III.

How the guideline value of Block 21 Sultan Pettai Street Part 2 has changed

The guideline value for Block 21 Sultan Pettai Street Part 2 has undergone several revisions over the years. In 2012, the guideline value was Rs 1,250 per sq.ft, which decreased to Rs 837 per sq.ft in 2017. This was a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 1,250 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,375 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value for these streets is Rs 1,375 per sq.ft, which is equal to the current value for Block 21 Sultan Pettai Street Part 2.

• Block 21 Nethaji Street Part 2: Rs 5,500 per sq.ft (2024)
• Block 21 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 21 West Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 22 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Sultan Pettai Street Part 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, making the total cost for these fees Rs 1,23,750. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 21 Sultan Pettai Street Part 2?

The Sub Registrar Office that covers Block 21 Sultan Pettai Street Part 2 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 details.

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 calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is assessed to determine the applicable fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 21 Sultan Pettai Street Part 2?

The current guideline value of Block 21 Sultan Pettai Street Part 2 is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2012 to Rs 837 per sq.ft in 2017, then increased to Rs 1,250 per sq.ft in 2023, and finally to Rs 1,375 per sq.ft in 2024.

What is the land classification of Block 21 Sultan Pettai Street Part 2?

Block 21 Sultan Pettai Street Part 2 is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Block 21 Sultan Pettai Street Part 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

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 1,23,750.