Guideline Value for Block 22 Pappathi Kadu 1 & 2

Block 22 Pappathi Kadu 1 & 2 guideline value

The current guideline value for Block 22 Pappathi Kadu 1 & 2 is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO, classified as Residential Class II Type - III.

How the guideline value of Block 22 Pappathi Kadu 1 & 2 has changed

The guideline value for Block 22 Pappathi Kadu 1 & 2 has undergone several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased to Rs 340 per sq.ft in 2003, marking a significant rise of 224%. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a 47% increase. By 2012, the value was Rs 600 per sq.ft, reflecting a 20% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 402 per sq.ft, a decrease of 33%. However, the value rebounded significantly, reaching Rs 700 per sq.ft in 2023, which was a 74% increase. The most recent revision in 2024 set the guideline value at Rs 771 per sq.ft, a 10% increase from the previous year.

Guideline values in Ward A

In Ward A, there are 111 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 guideline value for these streets is Rs 1,375 per sq.ft, which places Block 22 Pappathi Kadu 1 & 2 below the median value.

• Block 22 Thiru V.K.Street: Rs 1,100 per sq.ft (2024)
• Block 22 Chinnamuthu Street -3 2nd Part: Rs 825 per sq.ft (2024)
• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)
• Block 21 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 23 Chinnamuthu Street 3 Main Road: Rs 1,100 per sq.ft (2024)
• Block 21 Krishnasamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Pappathi Kadu 1 & 2

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling 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 information.

Which Sub Registrar Office covers Block 22 Pappathi Kadu 1 & 2?

The Sub Registrar Office that covers Block 22 Pappathi Kadu 1 & 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 additional details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ward A. When a property is sold or purchased, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of the property transaction. Accurate calculation of these fees ensures compliance with local regulations and avoids any legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Block 22 Pappathi Kadu 1 & 2?

The current guideline value for Block 22 Pappathi Kadu 1 & 2 is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 105 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, marking an overall increase of 634% over the years.

What is the median guideline value in Ward A?

The median guideline value for streets in Ward A is Rs 1,375 per sq.ft, making the guideline value for Block 22 Pappathi Kadu 1 & 2 lower than the median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,390, calculated based on the guideline value.

Where is the Sub Registrar Office located for this property?

The Sub Registrar Office for Block 22 Pappathi Kadu 1 & 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.