Guideline Value for Block 28 Poondhurai Road

Block 28 Poondhurai Road guideline value

The current guideline value for Block 28 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 28 Poondhurai Road has changed

The guideline value for Block 28 Poondhurai Road has seen several revisions over the years. In 2002, the guideline value was Rs 288 per sq.ft, which increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value continued to rise, reaching Rs 400 per sq.ft in 2007, a significant increase of 23%. The 2012 revision saw the value at Rs 1,000 per sq.ft, reflecting a 150% increase from the previous figure. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 1,000 per sq.ft in 2023, followed by the current value of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 282%. The register has no figure 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, with a median value of Rs 825 per sq.ft. The guideline value for Block 28 Poondhurai Road is above this median.

• Block 28 Railway Colony Road: Rs 1,100 per sq.ft (2024)
• Block 28 L.G.G.S.Colony 1,2,3: Rs 771 per sq.ft (2024)
• Block 28 Railway Station Road: Rs 771 per sq.ft (2024)
• Block 28 Sathankaruku (or) Shanthikaruku 1 2 3: Rs 771 per sq.ft (2024)
• Block 28 Gramadai Street 1 to 5: Rs 771 per sq.ft (2024)
• Block 29 Agathi Perumal Kovil Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Poondhurai Road

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 higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Block 28 Poondhurai Road?

The Sub Registrar Office that covers Block 28 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 plays a crucial role during the registration of property transactions in Ward E. It is used to determine the stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 28 Poondhurai Road?

The current guideline value for Block 28 Poondhurai Road 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 several times, with the most recent increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2002 to 2024, there has been an increase of 282%.

What is the classification of land for Block 28 Poondhurai Road?

Block 28 Poondhurai Road is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 28 Poondhurai Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000.