Guideline Value for Block 25 Akilmedu Street

Block 25 Akilmedu Street guideline value

The current guideline value for Block 25 Akilmedu 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, classified as Commercial Class I Type - III.

How the guideline value of Block 25 Akilmedu Street has changed

The guideline value for Block 25 Akilmedu Street has undergone several revisions since 2002. The value started at Rs 719 per sq.ft in 2002 and increased to Rs 806 per sq.ft in 2003, marking a change of +12%. By 2007, the value rose significantly to Rs 1,000 per sq.ft, an increase of +24%. The 2012 revision saw a further rise to Rs 2,500 per sq.ft, reflecting a substantial increase of +150% from the previous figure. However, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of -33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,750 per sq.ft, marking a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +282%. There are no figures in the register for any other years for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, making the 2024 figure for Block 25 Akilmedu Street above the median.

• Block 24 Sathyamangalam (or) Veerapathira Road: Rs 4,400 per sq.ft (2024)
• Block 24 New Sandhai Road: Rs 2,750 per sq.ft (2024)
• Block 24 Nehru Street: Rs 2,750 per sq.ft (2024)
• Block 24 Nachiappa Street 1,2: Rs 2,750 per sq.ft (2024)
• Block 25 Kannaki Street: Rs 1,100 per sq.ft (2024)
• Block 24 Muthusamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 Akilmedu Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 25 Akilmedu Street?

The Sub Registrar Office that covers Block 25 Akilmedu 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 additional 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 determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall transaction costs. The registration process will require the payment of stamp duty and registration fees calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Block 25 Akilmedu Street?

The current guideline value for Block 25 Akilmedu 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 increased from Rs 719 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +282% over this period.

What is the classification of Block 25 Akilmedu Street?

Block 25 Akilmedu Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

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 and registration fees would amount to Rs 2,47,500, based on the current rates.

Where is the Sub Registrar Office for Block 25 Akilmedu Street located?

The Sub Registrar Office for Block 25 Akilmedu Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.