Guideline Value for Block 27 Poondhurai Road

Block 27 Poondhurai Road guideline value

The current guideline value of Block 27 Poondhurai Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Block 27 Poondhurai Road has changed

The guideline value for Block 27 Poondhurai Road has seen several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 288 per sq.ft. This increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 400 per sq.ft in 2007, which is an increase of 23%. Following this, the guideline value jumped to Rs 1,000 per sq.ft in 2012, a significant increase of 150%. However, it decreased to Rs 670 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 282%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Block 27 Poondhurai Road's current value above that median.

• Block 27 Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Block 27 Railway Colony Road: Rs 771 per sq.ft (2024)
• Block 27 Mettur Road (or) E.V. Nanjappa Road: Rs 1,650 per sq.ft (2024)
• Block 28 Agathi Perumal Kovil Huts: Rs 771 per sq.ft (2024)
• Block 26 Sathankaruku 1 2 3: Rs 771 per sq.ft (2024)
• Block 28 Gramadai Street 1 to 5: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 Poondhurai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers Block 27 Poondhurai Road?

The Sub Registrar Office that covers Block 27 Poondhurai Road 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 E

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Ward E, the guideline value must be considered to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value serves as a benchmark for assessing the value of the property. It is essential for buyers and sellers to be aware of this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Block 27 Poondhurai Road?

The current guideline value of Block 27 Poondhurai Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

What was the guideline value in previous years?

The guideline value for Block 27 Poondhurai Road has changed over the years, with figures of Rs 1,000 per sq.ft in 2023, Rs 670 per sq.ft in 2017, Rs 1,000 per sq.ft in 2012, Rs 400 per sq.ft in 2007, Rs 326 per sq.ft in 2003, and Rs 288 per sq.ft in 2002.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration. It is used to calculate the stamp duty and registration fees that buyers and sellers must pay during the registration process.

What is the role of the Erode Joint I SRO?

The Erode Joint I SRO is responsible for maintaining the guideline value register and overseeing property registrations in the area. It ensures that property transactions comply with local regulations and that the guideline values are updated regularly.

How can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the guideline value of the property. A stamp duty and registration fee calculator is available to assist you in determining the total fees based on the guideline value or the sale price, whichever is higher.