Guideline Value for Block 25 West Perumal Kovil Street

Block 25 West Perumal Kovil Street guideline value

The current guideline value of Block 25 West Perumal Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward C, under the Erode Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Block 25 West Perumal Kovil Street has changed

The guideline value for Block 25 West Perumal Kovil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 574 per sq.ft. This increased to Rs 643 per sq.ft in 2003, marking a 12% rise. In 2007, the value jumped to Rs 750 per sq.ft, reflecting a 17% increase. The 2012 revision saw the value rise to Rs 1,500 per sq.ft, a significant 100% increase from the previous figure. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, representing a 33% drop. The value then increased to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 187%.

Guideline values in Ward C

In Ward C, there are 250 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 1,375 per sq.ft. The guideline value for Block 25 West Perumal Kovil Street is above this median.

• Block 25 West Easwaran Kovil Street: Rs 1,650 per sq.ft (2024)
• Block 26 Akilmedu Street Part 2: Rs 1,650 per sq.ft (2024)
• Block 25 Sengundhar Street: Rs 1,375 per sq.ft (2024)
• Block 25 Sathi (or) Veerapathira Road: Rs 2,750 per sq.ft (2024)
• Block 26 Kasiannan Street: Rs 1,100 per sq.ft (2024)
• Block 26 Muniappan Kovil Street: Rs 1,375 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 25 West Perumal Kovil Street?

The Sub Registrar Office covering Block 25 West Perumal Kovil 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 C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures that the registration process adheres to the regulations set by the authorities.

Frequently asked questions

What is the current guideline value of Block 25 West Perumal Kovil Street?

The current guideline value of Block 25 West Perumal Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 574 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 187% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 25 West Perumal Kovil Street is 7% of the guideline value or the sale price, whichever is higher.

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

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

What are the other streets in Ward C with similar guideline values?

Other streets in Ward C with similar guideline values include Block 25 West Easwaran Kovil Street and Block 26 Akilmedu Street Part 2, both at Rs 1,650 per sq.ft.