Guideline Value for Block 25 Venkata Perumal Street

Block 25 Venkata Perumal Street guideline value

The current guideline value of Block 25 Venkata Perumal Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Block 25 Venkata Perumal Street has changed

The guideline value for Block 25 Venkata Perumal Street has undergone several revisions over the years. The earliest recorded figure is from 2003, when it was Rs 428 per sq.ft. This value increased to Rs 600 per sq.ft in 2007, then rose to Rs 750 per sq.ft in 2012, followed by a decrease to Rs 502 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 750 per sq.ft, and the current value is Rs 825 per sq.ft as of 2024. Notably, there is no figure available for the year 2002 in the register.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The value rose by 25% from 2007 to 2012, and from 2003 to 2007, it increased by 40%. Overall, from 2003 to 2024, the guideline value has risen by 93%.

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. The guideline value of Block 25 Venkata Perumal Street is above this median.

• Block 25 V.V.C.R. Lay-out 1 2 3: Rs 771 per sq.ft (2024)
• Block 26 Balusamy Street: Rs 770 per sq.ft (2024)
• Block 25 Ramasamy Street OR Agasthiyar Street 1,2: Rs 771 per sq.ft (2024)
• Block 26 Iyannarappan Street: Rs 1,100 per sq.ft (2024)
• Block 26 Jayaram Sandhu: Rs 770 per sq.ft (2024)
• Block 26 Kamatchi Kadu: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 Venkata Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. 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 25 Venkata Perumal Street?

The Sub Registrar Office that covers Block 25 Venkata Perumal 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 more information.

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

When buying or selling property in Ward D, the guideline value is used as a benchmark for determining the stamp duty and registration fees. This value is crucial during the registration process, as it directly impacts the costs associated with property transactions.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The registration office will charge duty based on the higher of the two values, ensuring that the appropriate fees are collected based on the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value for Block 25 Venkata Perumal Street?

The current guideline value for Block 25 Venkata Perumal Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 428 per sq.ft in 2003 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 93% over this period.

What is the registration fee for properties in this area?

The registration fee is typically 2% of the guideline value, which can be calculated based on the property's size and current guideline rate.

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

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

How is the stamp duty calculated for properties in Ward D?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price of the property. This ensures that the correct fees are applied during registration.