Guideline Value for Block 22 Deva street

Block 22 Deva street guideline value

The current guideline value of Block 22 Deva street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 22 Deva street has changed

The guideline value for Block 22 Deva street has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft. This figure saw a significant increase to Rs 700 per sq.ft in the 2023 revision, marking a change of +109%. The most recent revision in 2024 raised the guideline value further to Rs 770 per sq.ft, reflecting a +10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +130%.

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. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that Block 22 Deva street's 2024 figure is below that median.

• Block 22 Giramadai 1 to 5: Rs 770 per sq.ft (2024)
• Block 22 Lakhman Street: Rs 770 per sq.ft (2024)
• Block 22 Awaiyar Street: Rs 771 per sq.ft (2024)
• Block 22 Mulakarai: Rs 770 per sq.ft (2024)
• Block 22 S.K.C.Road: Rs 1,100 per sq.ft (2024)
• Block 21 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Deva street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Deva street?

The Sub Registrar Office that covers Block 22 Deva 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 plays a crucial role in the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 22 Deva street?

The current guideline value of Block 22 Deva street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This reflects an overall increase of +130% from 2017 to 2024.

What is the land classification of Block 22 Deva street?

Block 22 Deva street is classified as Residential Class III Type - I. This classification is important for understanding the types of developments permitted in the area.

Where can I find the Sub Registrar Office for Block 22 Deva street?

The Sub Registrar Office for Block 22 Deva street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be calculated on Rs 7,70,000, which is the guideline value.