Guideline Value for Block 22 Thiru V.K.Street

Block 22 Thiru V.K.Street guideline value

The current guideline value of Block 22 Thiru V.K.Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 22 Thiru V.K.Street has changed

The guideline value for Block 22 Thiru V.K.Street has undergone several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased significantly to Rs 578 per sq.ft in 2003, marking a 450% increase. The value then rose to Rs 750 per sq.ft in 2007, a 30% increase, before reaching Rs 1,000 per sq.ft in 2012, which was a 33% increase. However, the value decreased to Rs 670 per sq.ft in 2017, a decline of 33%. Following this, the value saw a substantial increase to Rs 1,000 per sq.ft in 2023, which was a 49% rise, and most recently, it has increased to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in years other than those stated above for this street.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 22 Thiru V.K.Street is below this median.

• Block 23 Chinnamuthu Street 3 Main Road: Rs 1,100 per sq.ft (2024)
• Block 22 Pappathi Kadu 1 & 2: Rs 771 per sq.ft (2024)
• Block 23 Krishnasamy Street: Rs 825 per sq.ft (2024)
• Block 22 Chinnamuthu Street -3 2nd Part: Rs 825 per sq.ft (2024)
• Block 23 Pappathi Kadu: Rs 771 per sq.ft (2024)
• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Thiru V.K.Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 22 Thiru V.K.Street?

The Sub Registrar Office that covers Block 22 Thiru V.K.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 A

The guideline value is an essential factor in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for Block 22 Thiru V.K.Street?

The current guideline value for Block 22 Thiru V.K.Street 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 increased from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 948% over the years.

What is the classification of Block 22 Thiru V.K.Street?

Block 22 Thiru V.K.Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in this area?

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