Guideline Value for Block 23 Kulathu Palayam

Block 23 Kulathu Palayam guideline value

The current guideline value for Block 23 Kulathu Palayam is Rs 771 per sq.ft. This property is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 23 Kulathu Palayam has changed

The guideline value for Block 23 Kulathu Palayam has undergone several revisions over the years. In the 2002 revision, the guideline value was Rs 252 per sq.ft. This increased to Rs 285 per sq.ft in 2003, marking a rise of 13%. The value then continued to rise to Rs 350 per sq.ft in 2007, which was a 23% increase. In 2012, the value reached Rs 500 per sq.ft, reflecting a 43% increase from the previous revision. However, it decreased to Rs 335 per sq.ft in 2017, which was a reduction of 33%. The value saw a significant increase to Rs 700 per sq.ft in 2023, representing a 109% rise. The most recent revision in 2024 set the guideline value at Rs 771 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in years other than those specified. The overall change from the initial 2002 revision to the current 2024 value shows an increase of 206%.

Guideline values in Ward E

In Ward E, there are 196 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 825 per sq.ft. The guideline value for Block 23 Kulathu Palayam is below this median.

• Block 23 Mettur Road: Rs 2,750 per sq.ft (2024)
• Block 23 Kaliyankadu Huts: Rs 771 per sq.ft (2024)
• Block 23 Housing Unit (Periyar Nagar): Rs 2,200 per sq.ft (2024)
• Block 23 Govindharaja Street (or) Nagar: Rs 1,100 per sq.ft (2024)
• Block 23 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 23 Poyyaerikarai Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Kulathu Palayam

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total charges to Rs 69,390. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 23 Kulathu Palayam?

The Sub Registrar Office that covers Block 23 Kulathu Palayam 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 E

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 23 Kulathu Palayam?

The current guideline value of Block 23 Kulathu Palayam is Rs 771 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 252 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, showing an overall increase of 206%.

What is the stamp duty rate for properties in Block 23 Kulathu Palayam?

The stamp duty rate for properties in Block 23 Kulathu Palayam is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Block 23 Kulathu Palayam located?

The Sub Registrar Office for Block 23 Kulathu Palayam is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the correct amounts are charged based on the higher of the guideline value or sale price.