Guideline Value for Block 28 Seerangan St

Block 28 Seerangan St guideline value

The current guideline value of Block 28 Seerangan St is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 28 Seerangan St has changed

The guideline value for Block 28 Seerangan St has seen several revisions over the years. In 2003, the guideline value was Rs 448 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then rose significantly to Rs 1,000 per sq.ft in 2012, before dropping to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The changes between these revisions include a 12% 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.

The overall change from 2003 to 2024 reflects a significant increase of 146%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 28 Seerangan St is below this median.

• Block 28 Theppakulam Street: Rs 1,650 per sq.ft (2024)
• Block 28 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 28 Thiruvalluvar Huts: Rs 771 per sq.ft (2024)
• Block 29 Brough Road Main Road: Rs 4,400 per sq.ft (2024)
• Block 29 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 29 Kamarajar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Seerangan St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is 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 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 more details.

Which Sub Registrar Office covers Block 28 Seerangan St?

Block 28 Seerangan St falls under the jurisdiction of 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ward C. It serves as a benchmark for the registration of property transactions, ensuring that the sale price is in line with the established values in the area.

When a property is registered, the guideline value helps determine the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures a standardized approach to property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 28 Seerangan St?

The current guideline value of Block 28 Seerangan St 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 448 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 146% over this period.

What is the land classification for Block 28 Seerangan St?

Block 28 Seerangan St is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Block 28 Seerangan St is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

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