Guideline Value for Block 22 Venkatachalam Street

Block 22 Venkatachalam Street guideline value

The current guideline value of Block 22 Venkatachalam Street is Rs 2,750 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 Commercial Class I Type - III.

How the guideline value of Block 22 Venkatachalam Street has changed

The guideline value for Block 22 Venkatachalam Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 480 per sq.ft. It increased to Rs 538 per sq.ft in 2003, marking a 12% rise. The value further increased to Rs 1,500 per sq.ft in 2007, which was a significant jump of 179%. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, a drop of 33%. However, the value rose again to Rs 1,675 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, which was then revised to Rs 2,750 per sq.ft in 2024, showing a 10% increase.

Throughout these revisions, the overall change from 2002 to 2024 has been an increase of 473%. There are no figures available for the years between 2012 and 2017 for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 22 Venkatachalam Street's 2024 figure above that median.

• Block 22 Veerapathira Road: Rs 2,750 per sq.ft (2024)
• Block 22 Vaniyar Street (or) Kovalan Street: Rs 1,100 per sq.ft (2024)
• Block 23 AkilMedu Street: Rs 2,750 per sq.ft (2024)
• Block 23 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 22 Subramaniyan Street: Rs 1,375 per sq.ft (2024)
• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Venkatachalam Street?

The Sub Registrar Office that covers Block 22 Venkatachalam 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 when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buyers and sellers engage in a transaction, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

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

The current guideline value of Block 22 Venkatachalam Street is Rs 2,750 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 2,750 per sq.ft in 2024, reflecting an overall increase of 473% over the years.

What is the land classification for Block 22 Venkatachalam Street?

Block 22 Venkatachalam Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office located?

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