Guideline Value for Block 28 Bharathiar Street

Block 28 Bharathiar Street guideline value

The current guideline value for Block 28 Bharathiar 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Block 28 Bharathiar Street has changed

The guideline value for Block 28 Bharathiar Street has undergone several revisions over the years. In 2002, the value was Rs 443 per sq.ft. It increased to Rs 497 per sq.ft in 2003, followed by a marginal increase to Rs 500 per sq.ft in 2007. The value then saw a significant rise to Rs 1,000 per sq.ft in 2012, which was followed by a decrease to Rs 670 per sq.ft in 2017. The value rebounded to Rs 1,000 per sq.ft in 2023 and further increased to the current rate of Rs 1,100 per sq.ft in 2024.

Changes between the revisions include a 12% increase from 2002 to 2003, a 1% increase from 2003 to 2007, a 100% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 148%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value 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 28 Bharathiar Street's 2024 figure below that median.

• Block 28 Brough Road Main Road Part 1: Rs 4,400 per sq.ft (2024)
• Block 28 Edaiyan Thottam: Rs 1,375 per sq.ft (2024)
• Block 27 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 27 Municipal Street 1 to 2: Rs 1,375 per sq.ft (2024)
• Block 27 Kasiannan Street: Rs 1,100 per sq.ft (2024)
• Block 28 Seerangan St: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Bharathiar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. It is important to note that the 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 28 Bharathiar Street?

The Sub Registrar Office that covers Block 28 Bharathiar 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 further assistance.

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

The guideline value is a critical 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 guideline value helps ensure that the transaction is recorded accurately in the official registers. Buyers and sellers must consider this value to avoid discrepancies and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 28 Bharathiar Street?

The current guideline value for Block 28 Bharathiar 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 443 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 148% over the years.

What is the land classification for Block 28 Bharathiar Street?

Block 28 Bharathiar Street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000, and the registration fee is Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Block 28 Bharathiar Street?

The Erode Joint I Sub Registrar Office covers Block 28 Bharathiar Street and is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.