Guideline Value for Block 21 West Kongalamman Kovil Street Part 2

Block 21 West Kongalamman Kovil Street Part 2 guideline value

The current guideline value of Block 21 West Kongalamman Kovil Street Part 2 is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C, under the Erode Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Block 21 West Kongalamman Kovil Street Part 2 has changed

Over the years, the guideline value for Block 21 West Kongalamman Kovil Street Part 2 has seen significant changes. In 2002, the 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 increase, reaching Rs 1,000 per sq.ft in 2007, a 47% increase from the previous revision. However, there was a substantial jump to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. The value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33% from the 2012 figure. In 2023, it rose significantly to Rs 2,500 per sq.ft, and the latest revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. There are no figures available for revisions in years not listed.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value range from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 21 West Kongalamman Kovil Street Part 2 above this median.

• Block 22 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 21 Sultan Pettai Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 21 Nethaji Street Part 2: Rs 5,500 per sq.ft (2024)
• Block 22 Municipality Lane: Rs 1,100 per sq.ft (2024)
• Block 21 Masuthi Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 22 Nethaji Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 West 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 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, making the total fees Rs 2,47,500. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Block 21 West Kongalamman Kovil 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 information.

How the guideline value is used when you buy or sell in Ward C

The guideline value is a crucial factor when buying or selling property in Ward C. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 21 West Kongalamman Kovil Street Part 2?

The current guideline value of Block 21 West 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, reflecting an overall increase of 352% over this period.

What is the land classification for Block 21 West Kongalamman Kovil Street Part 2?

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

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

The Sub Registrar Office for Block 21 West Kongalamman Kovil 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 higher of the guideline value or the sale price. For example, 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.