Guideline Value for Block 22 Karuppa Gounder Street

Block 22 Karuppa Gounder Street guideline value

The current guideline value of Block 22 Karuppa Gounder Street is Rs 772 per sq.ft. This street is located in Ward E village, under the Erode Joint I SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Block 22 Karuppa Gounder Street has changed

Since the 2002 revision, the guideline value for Block 22 Karuppa Gounder Street has seen significant changes. The value began at Rs 217 per sq.ft in 2002 and increased to Rs 246 per sq.ft in 2003, marking a growth of 13%. The value then rose to Rs 350 per sq.ft in 2007, an increase of 42%. Following this, the value reached Rs 600 per sq.ft in 2012, reflecting a 71% increase. However, it dropped to Rs 402 per sq.ft in 2017, which was a decrease of 33%. The value then increased to Rs 700 per sq.ft in 2023, marking a growth of 74%. The latest revision in 2024 has set the value at Rs 772 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 256%. There are no figures available for revisions in years other than those specified.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 825 per sq.ft, positioning Block 22 Karuppa Gounder Street below this median.

• Block 22 Chithambaram Chettiar Colony: Rs 1,100 per sq.ft (2024)
• Block 22 Municipal Lane: Rs 771 per sq.ft (2024)
• Block 22 Nallappa Gounder Street: Rs 772 per sq.ft (2024)
• Block 21 Vetnari Hospital Road: Rs 2,750 per sq.ft (2024)
• Block 22 Rasa Gounder Kadu: Rs 825 per sq.ft (2024)
• Block 22 Rasa Gounder Lane: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Karuppa Gounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value amounts to Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, and the registration fee at 2% would be Rs 15,440, bringing the total fees together to Rs 69,480. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Karuppa Gounder Street?

The Sub Registrar Office covering Block 22 Karuppa Gounder 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 E

The guideline value is a critical factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Ward E, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

It is essential to be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the registration process adheres to the established guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Block 22 Karuppa Gounder Street?

The current guideline value of Block 22 Karuppa Gounder Street is Rs 772 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 217 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

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

For a property valued at Rs 7,72,000, the stamp duty would be Rs 54,040 and the registration fee would be Rs 15,440, totaling Rs 69,480. These fees are based on the guideline value.

Which office handles the registration for Block 22 Karuppa Gounder Street?

The registration for Block 22 Karuppa Gounder Street is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 22 Karuppa Gounder Street?

The land classification for Block 22 Karuppa Gounder Street is Residential Class II Type - III, indicating its suitability for residential purposes.