Guideline Value for Block 22 Awaiyar Street

Block 22 Awaiyar Street guideline value

The current guideline value of Block 22 Awaiyar Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - III.

How the guideline value of Block 22 Awaiyar Street has changed

The guideline value for Block 22 Awaiyar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 181 per sq.ft. It increased to Rs 203 per sq.ft in 2003, marking a change of +12%. The value continued to rise, reaching Rs 250 per sq.ft in 2007, which was a +23% increase. By 2012, the value had increased to Rs 600 per sq.ft, reflecting a significant rise of +140%. However, it then decreased to Rs 402 per sq.ft in 2017, a drop of -33%. The most recent revisions show that the value was Rs 700 per sq.ft in 2023, and it has now increased to Rs 771 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +326%. There are no years in the register that show a figure for this street other than those mentioned.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Block 22 Awaiyar Street is below this median.

• Block 22 Deva street: Rs 770 per sq.ft (2024)
• Block 22 Giramadai 1 to 5: Rs 770 per sq.ft (2024)
• Block 22 Lakhman Street: Rs 770 per sq.ft (2024)
• Block 22 Mulakarai: Rs 770 per sq.ft (2024)
• Block 21 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 21 Chenniappa Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Awaiyar Street

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, while the registration fee at 2% would be Rs 15,420. Together, the total cost for these fees would be Rs 69,390. 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 22 Awaiyar Street?

The Sub Registrar Office that covers Block 22 Awaiyar Street 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 B

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 22 Awaiyar Street?

The current guideline value of Block 22 Awaiyar Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, showing an overall increase of +326% over this period.

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

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles property registration for Block 22 Awaiyar Street?

The Erode Joint I Sub Registrar Office handles property registration for Block 22 Awaiyar Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the median guideline value in Ward B?

The median guideline value in Ward B is Rs 1,100 per sq.ft for the year 2024, while Block 22 Awaiyar Street's value is below this median.