Guideline Value for Block 24 Sathiyamoorthy Street

Block 24 Sathiyamoorthy Street guideline value

The current guideline value for Block 24 Sathiyamoorthy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 24 Sathiyamoorthy Street has changed

The guideline value for Block 24 Sathiyamoorthy Street has seen several revisions since 2002. The figures are as follows: in 2002, the value was Rs 518 per sq.ft, which increased to Rs 581 per sq.ft in 2003. The value then rose to Rs 750 per sq.ft in 2007, followed by a decrease to Rs 1,000 per sq.ft in 2012. In 2017, it was Rs 670 per sq.ft, and by 2023, it had increased to Rs 1,000 per sq.ft. The current value is Rs 1,100 per sq.ft as of the 2024 revision.

In terms of changes, from 2002 to 2003, there was an increase of 12%. The value rose by 29% from 2003 to 2007, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and from 2023 to 2024, it has risen by 10%. Overall, the increase from 2002 to 2024 is 112%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. Block 24 Sathiyamoorthy Street's 2024 guideline value is above this median.

• Block 24 Rangasamy Lane (Street): Rs 770 per sq.ft (2024)
• Block 24 Valaiyakkara Street: Rs 1,100 per sq.ft (2024)
• Block 25 Ayyanarappan Kovil Street 1,2: Rs 1,100 per sq.ft (2024)
• Block 25 Balusamy Street: Rs 770 per sq.ft (2024)
• Block 25 Chella Batsha Street: Rs 1,375 per sq.ft (2024)
• Block 24 Kuppipalam Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Sathiyamoorthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, making the total charges Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 24 Sathiyamoorthy Street?

The Sub Registrar Office that covers Block 24 Sathiyamoorthy 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 D

The guideline value is a crucial factor in property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is utilized to calculate the applicable stamp duty and registration fees during the sale or purchase of property.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 24 Sathiyamoorthy Street?

The current guideline value for Block 24 Sathiyamoorthy 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 changed significantly over the years, starting from Rs 518 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024. There have been various increases and decreases in the value through the years.

What is the land classification for Block 24 Sathiyamoorthy Street?

Block 24 Sathiyamoorthy Street is classified as Residential Class II Type - I. This classification is important for understanding the guidelines and regulations applicable to the property.

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

The Sub Registrar Office for Block 24 Sathiyamoorthy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.