Guideline Value for Block 28 Kamatchikadu (Street)

Block 28 Kamatchikadu (Street) guideline value

The current guideline value for Block 28 Kamatchikadu (Street) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward D village and falls under the Erode Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Block 28 Kamatchikadu (Street) has changed

The guideline value for Block 28 Kamatchikadu (Street) has undergone several revisions over the years. In 2002, the guideline value was Rs 296 per sq.ft, which increased to Rs 333 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 400 per sq.ft in 2007, reflecting a +20% increase. Following this, it further increased to Rs 500 per sq.ft in 2012, which was a +25% change. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, showing a decline of -33%. The value then saw a significant rise to Rs 700 per sq.ft in 2023, with an increase of +109%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, which is a +10% change from the previous year.

There are no figures available for the revisions in years other than those mentioned above for this street.

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. The median guideline value in this area is Rs 798 per sq.ft, placing Block 28 Kamatchikadu (Street) below this median.

• Block 28 Jayaram Lane: Rs 770 per sq.ft (2024)
• Block 28 Kuppipalayam Road: Rs 771 per sq.ft (2024)
• Block 28 Chokkalingam Road: Rs 1,100 per sq.ft (2024)
• Block 28 Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 27 V.V.C.R. Murugesa Mudhaliar Nagar: Rs 771 per sq.ft (2024)
• Block 28 SathiyaMoorthy Theru: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Kamatchikadu (Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 28 Kamatchikadu (Street)?

The Sub Registrar Office that covers Block 28 Kamatchikadu (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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Block 28 Kamatchikadu (Street)?

The current guideline value for Block 28 Kamatchikadu (Street) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 296 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +160% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office handles registrations for this street?

The Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, covers registrations for Block 28 Kamatchikadu (Street).

What is the land classification for Block 28 Kamatchikadu (Street)?

The land classification for Block 28 Kamatchikadu (Street) is Residential Class III Type - I.