Guideline Value for Block 23 Deva Street

Block 23 Deva Street guideline value

The current guideline value for Block 23 Deva Street in Ward B village, under the Erode Joint I SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Block 23 Deva Street has changed

Since the 2002 revision, the guideline value for Block 23 Deva Street has seen significant changes. In 2002, the guideline value was Rs 138 per sq.ft. It increased to Rs 155 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 250 per sq.ft in 2007, a +61% increase. By 2012, it further increased to Rs 500 per sq.ft, reflecting a +100% change. However, the value decreased to Rs 335 per sq.ft in 2017, a drop of -33%. The guideline value then surged to Rs 700 per sq.ft in 2023, resulting in a +109% increase. The most recent revision in 2024 set the value at Rs 770 per sq.ft, a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +458%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 23 Deva Street is below this median.

• Block 23 Giramadai 1 to 5: Rs 770 per sq.ft (2024)
• Block 23 Karuppana Samy Kovil Street: Rs 771 per sq.ft (2024)
• Block 22 Vela Street: Rs 825 per sq.ft (2024)
• Block 22 Thanakodi Lay Out: Rs 771 per sq.ft (2024)
• Block 22 Sri Ranga Naicker Street: Rs 771 per sq.ft (2024)
• Block 23 Rajarathinam Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Deva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the 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 23 Deva Street?

The Sub Registrar Office that covers Block 23 Deva Street 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is bought or sold, the higher of the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value for Block 23 Deva Street?

The current guideline value for Block 23 Deva Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 138 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +458% over the years.

What is the land classification for Block 23 Deva Street?

Block 23 Deva Street is classified as Residential Class III Type - I, which is important for understanding its usage and zoning regulations.

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

The Sub Registrar Office for Block 23 Deva Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000, leading to specific fees based on this amount.