Guideline Value for Block 28 Valaiyakara Street

Block 28 Valaiyakara Street guideline value

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

How the guideline value of Block 28 Valaiyakara Street has changed

The guideline value for Block 28 Valaiyakara Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 348 per sq.ft, which increased to Rs 390 per sq.ft in 2003. The value then rose to Rs 600 per sq.ft in 2007, followed by a significant jump to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,100 per sq.ft.

In terms of percentage changes, the value increased by 12% from 2002 to 2003, 54% from 2003 to 2007, and 67% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by an increase of 49% from 2017 to 2023, and a final increase of 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 216%.

Guideline values in Ward D

In Ward D, the guideline values for properties vary significantly, with figures ranging from Rs 770 to Rs 7,700 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 798 per sq.ft, positioning Block 28 Valaiyakara Street's 2024 figure above this median.

• Block 28 Thuruva Lane: Rs 825 per sq.ft (2024)
• Block 28 Ward Road: Rs 770 per sq.ft (2024)
• Block 29 Agrahara Street: Rs 825 per sq.ft (2024)
• Block 28 SathiyaMoorthy Theru: Rs 1,100 per sq.ft (2024)
• Block 29 Chokkalingam Street: Rs 825 per sq.ft (2024)
• Block 29 Cutcheri Street: Rs 1,375 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 28 Valaiyakara Street?

The Sub Registrar Office that covers Block 28 Valaiyakara 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value for Block 28 Valaiyakara 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 348 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and one decrease along the way.

What is the land classification for Block 28 Valaiyakara Street?

Block 28 Valaiyakara Street is classified as Residential Class II Type - I.

What is the registration office for this area?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.