Guideline Value for Block 3 Krishnampalayam Part 1,2

Block 3 Krishnampalayam Part 1,2 guideline value

The current guideline value of Block 3 Krishnampalayam Part 1,2 is Rs 825 per sq.ft. This area falls under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 3 Krishnampalayam Part 1,2 has changed

The guideline value has undergone several revisions over the years. In 2002, the guideline value was Rs 320 per sq.ft, which increased to Rs 359 per sq.ft in 2003, marking a 12% rise. By 2007, the value further increased to Rs 400 per sq.ft, reflecting an 11% change. The 2012 revision saw the value rise to Rs 750 per sq.ft, which was an 88% increase from the previous figure. However, in 2017, the value dropped to Rs 502 per sq.ft, indicating a decrease of 33%. The guideline value rose again to Rs 750 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 825 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 158%. It is important to note that the register has no figure for this street in revisions other than those listed.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this ward is Rs 1,375 per sq.ft, indicating that Block 3 Krishnampalayam Part 1,2's 2024 figure is below that median.

• Block 3 Ganapathipuram: Rs 825 per sq.ft (2024)
• Block 3 Chokkai Thottam St: Rs 771 per sq.ft (2024)
• Block 3 Chinnappa Lay out: Rs 771 per sq.ft (2024)
• Block 3 T.Krishnan St: Rs 772 per sq.ft (2024)
• Block 3 Chenniyappa Street: Rs 771 per sq.ft (2024)
• Block 3 Vinayagar Kovil Street 1,2: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Krishnampalayam Part 1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. 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 3 Krishnampalayam Part 1,2?

The Sub Registrar Office that covers Block 3 Krishnampalayam Part 1,2 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 C

The guideline value is an essential component in the registration process for property transactions in Ward C. It determines the baseline value upon which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair price for the property, facilitating a smoother transaction process during registration.

Frequently asked questions

What is the current guideline value of Block 3 Krishnampalayam Part 1,2?

The current guideline value of Block 3 Krishnampalayam Part 1,2 is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 320 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 158% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles property registrations for Block 3 Krishnampalayam Part 1,2?

The Erode Joint I Sub Registrar Office handles property registrations for Block 3 Krishnampalayam Part 1,2, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the classification of land in Block 3 Krishnampalayam Part 1,2?

The land in Block 3 Krishnampalayam Part 1,2 is classified as Residential Class II Type - II, which is important for understanding its use and potential development.