Guideline Value for Block 22 Subramaniyan Street

Block 22 Subramaniyan Street guideline value

The current guideline value for Block 22 Subramaniyan Street is Rs 1,375 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 I Type - III.

How the guideline value of Block 22 Subramaniyan Street has changed

The guideline value for Block 22 Subramaniyan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 480 per sq.ft, which increased to Rs 538 per sq.ft in 2003. The value then saw a rise to Rs 750 per sq.ft in 2007, followed by a significant increase to Rs 1,250 per sq.ft in 2012. However, it decreased to Rs 837 per sq.ft in 2017. The 2023 revision set the value at Rs 1,250 per sq.ft, and the most recent 2024 revision increased it to Rs 1,375 per sq.ft.

The changes between revisions indicate a +12% increase from 2002 to 2003, a +39% rise from 2003 to 2007, a +67% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, and a +49% increase from 2017 to 2023. Finally, the change from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +186%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value is Rs 1,375 per sq.ft, which is equal to the current value for Block 22 Subramaniyan Street.

• 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)
• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)
• Block 22 Sengoda Lane: Rs 1,100 per sq.ft (2024)
• Block 22 Venkatachalam Street: Rs 2,750 per sq.ft (2024)
• Block 23 AkilMedu Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Subramaniyan Street?

The Sub Registrar Office that covers Block 22 Subramaniyan 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 C

The guideline value is a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to assess the official value of the property. This ensures that the appropriate fees are collected based on the established rates, providing a transparent process for all parties involved.

Frequently asked questions

What is the current guideline value of Block 22 Subramaniyan Street?

The current guideline value of Block 22 Subramaniyan Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 480 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of +186% over this period.

What is the land classification for Block 22 Subramaniyan Street?

Block 22 Subramaniyan Street is classified as Residential Class I Type - III.

Where is the Sub Registrar Office for Block 22 Subramaniyan Street located?

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

How is stamp duty calculated for properties in Block 22 Subramaniyan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,23,750.