Guideline Value for Block 21 Vaniya Pillaiyar Street

Block 21 Vaniya Pillaiyar Street guideline value

The current guideline value for Block 21 Vaniya Pillaiyar Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 21 Vaniya Pillaiyar Street has changed

The guideline value for Block 21 Vaniya Pillaiyar Street has seen several revisions over the years. In 2002, the value was Rs 382 per sq.ft, which increased to Rs 429 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 600 per sq.ft in 2007, an increase of +40%. Following this, the value went up to Rs 750 per sq.ft in 2012, which was a +25% change. However, it decreased to Rs 502 per sq.ft in 2017, a decline of -33%. The value then significantly increased to Rs 750 per sq.ft in 2023, and finally, it rose to Rs 825 per sq.ft in 2024, a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +116%. It is important to note that the register has no figure for the years not mentioned in this context.

Guideline values in Ward D

In Ward D, the guideline values for 200 streets under the Erode Joint I SRO range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 21 Vaniya Pillaiyar Street is above this median.

• Block 21 Vallaiyakara Street: Rs 1,100 per sq.ft (2024)
• Block 21 Thattara Mandapa Street: Rs 1,100 per sq.ft (2024)
• Block 21 Sathiyamoorthy Street: Rs 1,100 per sq.ft (2024)
• Block 22 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 22 Kutcheri Street: Rs 1,375 per sq.ft (2024)
• Block 21 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Vaniya Pillaiyar Street

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total Rs 74,250. 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 21 Vaniya Pillaiyar Street?

The Sub Registrar Office that covers Block 21 Vaniya Pillaiyar 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 D

The guideline value plays a crucial role in property transactions in Ward D. It is used as a basis for calculating stamp duty and registration fees when properties are bought or sold. This ensures that the government collects the appropriate fees based on the established guideline values.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This process ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Block 21 Vaniya Pillaiyar Street?

The current guideline value for Block 21 Vaniya Pillaiyar Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 382 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +116% over this period.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250 based on the current guideline value.

Which office handles property registrations for Block 21 Vaniya Pillaiyar Street?

The Erode Joint I Sub Registrar Office handles property registrations for Block 21 Vaniya Pillaiyar Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 21 Vaniya Pillaiyar Street?

Block 21 Vaniya Pillaiyar Street is classified as Residential Class II Type - II, indicating its intended use for residential purposes.