Guideline Value for Block 22 Lakhman Street

Block 22 Lakhman Street guideline value

The current guideline value for Block 22 Lakhman 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 Lakhman Street has changed

The guideline value for Block 22 Lakhman Street has undergone several revisions over the years. In 2002, the value was Rs 174 per sq.ft, which increased to Rs 195 per sq.ft in 2003, marking a 12% change. The value then rose to Rs 250 per sq.ft in 2007, a 28% increase, followed by a significant jump to Rs 500 per sq.ft in 2012, which was a 100% increase. The next revision in 2023 saw the value increase to Rs 700 per sq.ft, a 40% rise, and the latest revision in 2024 brought it to Rs 770 per sq.ft, reflecting a 10% increase.

It is important to note that there is no figure available for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 343%.

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 for Block 22 Lakhman Street is below this median.

• Block 22 Mulakarai: Rs 770 per sq.ft (2024)
• Block 22 Giramadai 1 to 5: Rs 770 per sq.ft (2024)
• Block 22 Deva street: Rs 770 per sq.ft (2024)
• Block 22 Awaiyar Street: Rs 771 per sq.ft (2024)
• Block 22 S.K.C.Road: Rs 1,100 per sq.ft (2024)
• Block 22 Sri Ranga Naicker Street: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Block 22 Lakhman Street?

The Sub Registrar Office that covers Block 22 Lakhman 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 B

The guideline value is a crucial factor in property transactions in Ward B. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property registration. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with legal requirements during the transaction process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value for Block 22 Lakhman Street?

The current guideline value for Block 22 Lakhman 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 174 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 343% over the years.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this street?

The Erode Joint I Sub Registrar Office covers Block 22 Lakhman Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

Are there other streets with the same guideline value in Ward B?

Yes, there are other streets in Ward B with the same guideline value of Rs 770 per sq.ft, including Block 22 Mulakarai, Block 22 Giramadai 1 to 5, and Block 22 Deva street, among others.