Guideline Value for Block 22 Sengoda Lane

Block 22 Sengoda Lane guideline value

The current guideline value of Block 22 Sengoda Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 22 Sengoda Lane has changed

The guideline value for Block 22 Sengoda Lane has undergone several revisions over the years. In 2002, the guideline value was Rs 240 per sq.ft, which increased to Rs 269 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking an increase of 86%. The value then doubled to Rs 1,000 per sq.ft in 2012, but saw a decrease of 33% to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, with the most recent 2024 revision increasing it to Rs 1,100 per sq.ft, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 358%. It is important to note that the register has no figure for this street in the years not mentioned.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO carrying a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 22 Sengoda Lane is below this median.

• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)
• Block 22 Nethaji Road: Rs 5,500 per sq.ft (2024)
• Block 22 Subramaniyan Street: Rs 1,375 per sq.ft (2024)
• Block 22 Municipality Lane: Rs 1,100 per sq.ft (2024)
• Block 22 Vaniyar Street (or) Kovalan Street: Rs 1,100 per sq.ft (2024)
• Block 22 Veerapathira Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Sengoda Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 22 Sengoda Lane?

The Sub Registrar Office that covers Block 22 Sengoda Lane 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 C

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Block 22 Sengoda Lane?

The current guideline value of Block 22 Sengoda Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 240 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 358% over this period.

What is the guideline value for other streets in Ward C?

Other streets in Ward C have varying guideline values, with rates ranging from Rs 1,100 per sq.ft to Rs 5,500 per sq.ft as per the 2024 revision.

How is stamp duty calculated for properties in Block 22 Sengoda Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.

Where can I find the Sub Registrar Office for Block 22 Sengoda Lane?

The Sub Registrar Office for Block 22 Sengoda Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.