Guideline Value for Block 3 Arasilango Street

Block 3 Arasilango Street guideline value

The current guideline value of Block 3 Arasilango Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Block 3 Arasilango Street has changed

Over the years, the guideline value of Block 3 Arasilango Street has undergone several revisions. Starting from Rs 186 per sq.ft in 2002, the value increased to Rs 209 per sq.ft in 2003, marking a 12% rise. The subsequent revisions saw the value rise to Rs 250 per sq.ft in 2007 (+20%), then to Rs 500 per sq.ft in 2012 (+100%). However, there was a significant drop to Rs 335 per sq.ft in 2017 (-33%). The value then surged to Rs 700 per sq.ft in 2023 (+109%) before reaching the current rate of Rs 770 per sq.ft in 2024 (+10%).

There are no figures available for the revisions from years not listed in the register. The overall increase from 2002 to 2024 is 314%, reflecting the changes in guideline values over the years.

Guideline values in Ward D

In Ward D, the guideline values range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. Block 3 Arasilango Street's 2024 figure is below this median, indicating its relative position within the ward.

• Block 3 Arumugam Street: Rs 771 per sq.ft (2024)
• Block 3 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 3 Marudhaveeran Lane: Rs 770 per sq.ft (2024)
• Block 3 Muthukaruppan Lane: Rs 770 per sq.ft (2024)
• Block 3 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)
• Block 3 Vaiyapuri Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Arasilango Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the 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, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 3 Arasilango Street?

The Sub Registrar Office that covers Block 3 Arasilango 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 more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees such as stamp duty and registration fees. This ensures that the fees are proportionate to the property's value, as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Block 3 Arasilango Street?

The current guideline value of Block 3 Arasilango 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 186 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of 314% over the years.

What are the stamp duty and registration fees for properties 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 office handles registrations for Block 3 Arasilango Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 3 Arasilango Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 3 Arasilango Street?

Block 3 Arasilango Street falls under the Residential Class III Type - I land classification.