Guideline Value for Block 29 Theppakulam Street

Block 29 Theppakulam Street guideline value

The current guideline value for Block 29 Theppakulam Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Block 29 Theppakulam Street has changed

The guideline value for Block 29 Theppakulam Street has seen several revisions over the years. The earliest recorded value in the register is from 2002, where it was Rs 719 per sq.ft. This value increased to Rs 806 per sq.ft in 2003, marking a 12% rise. The subsequent revisions showed fluctuations, with the value reaching Rs 1,000 per sq.ft in 2007, which was a 24% increase from the previous revision. In 2012, the value remained at Rs 1,500 per sq.ft, reflecting no change for this street during that revision.

The most significant changes occurred in the later years. The value increased to Rs 1,005 per sq.ft in 2017, followed by a substantial rise to Rs 1,500 per sq.ft in 2023, and finally reaching the current guideline value of Rs 1,650 per sq.ft in 2024, which represents a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 129%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 29 Theppakulam Street's 2024 figure above that median.

• Block 2 Azakarasan Nagar: Rs 771 per sq.ft (2024)
• Block 2 Cauvery Raod Main Road: Rs 825 per sq.ft (2024)
• Block 2 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 2 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 29 Kothukara Nalla Street: Rs 825 per sq.ft (2024)
• Block 29 Kamarajar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 29 Theppakulam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 29 Theppakulam Street?

The Sub Registrar Office that covers Block 29 Theppakulam Street 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Ward C. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and reflects the value of the property as per the government’s assessment.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding the guideline value helps in making informed decisions regarding property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 29 Theppakulam Street?

The current guideline value of Block 29 Theppakulam Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, increasing from Rs 719 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 129%.

What is the median guideline value in Ward C?

The median guideline value in Ward C is Rs 1,375 per sq.ft, which is below the current value of Block 29 Theppakulam Street.

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

The Sub Registrar Office covering Block 29 Theppakulam Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.