Guideline Value for Block 26 Akilmedu Street Part 2

Block 26 Akilmedu Street Part 2 guideline value

The current guideline value for Block 26 Akilmedu Street Part 2 is Rs 1,650 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 I Type - II.

How the guideline value of Block 26 Akilmedu Street Part 2 has changed

The guideline value for Block 26 Akilmedu Street Part 2 has undergone several revisions over the years. In 2002, the guideline value was Rs 516 per sq.ft, which increased to Rs 578 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, a 30% increase from the previous revision. The 2012 revision set the value at Rs 1,500 per sq.ft, reflecting a significant 100% increase from 2007. However, this value dropped by 33% to Rs 1,005 per sq.ft in 2017.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, bringing it to Rs 1,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year. 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 2024 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, placing Block 26 Akilmedu Street Part 2 above that median.

• Block 25 West Perumal Kovil Street: Rs 1,650 per sq.ft (2024)
• Block 25 West Easwaran Kovil Street: Rs 1,650 per sq.ft (2024)
• Block 26 Kasiannan Street: Rs 1,100 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 Muniappan Kovil Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 26 Akilmedu Street Part 2

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 further calculations.

Which Sub Registrar Office covers Block 26 Akilmedu Street Part 2?

The Sub Registrar Office that covers Block 26 Akilmedu Street Part 2 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 applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the duty is charged appropriately. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value or the sale price, which can affect the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Block 26 Akilmedu Street Part 2?

The current guideline value for Block 26 Akilmedu Street Part 2 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 516 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification for Block 26 Akilmedu Street Part 2?

Block 26 Akilmedu Street Part 2 is classified as Residential Class I Type - II.

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

The Erode Joint I Sub Registrar Office covers Block 26 Akilmedu Street Part 2, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.