Guideline Value for Block 25 Kannaki Street

Block 25 Kannaki Street guideline value

The current guideline value of Block 25 Kannaki Street is Rs 1,100 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 Residential Class II Type - I.

How the guideline value of Block 25 Kannaki Street has changed

The guideline value for Block 25 Kannaki Street has undergone several revisions over the years. In 2002, the value was Rs 480 per sq.ft, which increased to Rs 538 per sq.ft in 2003, marking a 12% rise. The value continued to rise to Rs 750 per sq.ft in 2007, representing a 39% increase. By 2012, the value reached Rs 1,000 per sq.ft, showing a 33% decrease from the previous revision. The 2017 revision set the value at Rs 670 per sq.ft, reflecting a 49% increase from 2012. In 2023, the value was Rs 1,000 per sq.ft, and the most recent revision in 2024 saw it rise to Rs 1,100 per sq.ft, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 129%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values in 2024 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 25 Kannaki Street's 2024 figure below that median.

• Block 25 Kasiannan Street: Rs 1,100 per sq.ft (2024)
• Block 25 Akilmedu Street: Rs 2,750 per sq.ft (2024)
• Block 25 Muniappan Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 25 North Easwaran Kovil Street: Rs 1,650 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Block 25 Kannaki 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 amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 25 Kannaki Street?

The Sub Registrar Office that covers Block 25 Kannaki 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 plays a crucial role in property transactions in Ward C. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Additionally, the guideline value is used to determine the minimum price at which a property can be registered. This ensures transparency and helps in maintaining a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 25 Kannaki Street?

The current guideline value of Block 25 Kannaki 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 from Rs 480 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles registrations for Block 25 Kannaki Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the stamp duty and registration fees. It also establishes the minimum price for property registration, ensuring transparency in the transaction process.