Guideline Value for Block 3 Palaniappa Street

Block 3 Palaniappa Street guideline value

The current guideline value of Block 3 Palaniappa Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and the land classification is Residential Special Type - I.

How the guideline value of Block 3 Palaniappa Street has changed

The guideline value for Block 3 Palaniappa Street has seen several revisions over the years. In 2002, the value was Rs 447 per sq.ft, which increased to Rs 501 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 750 per sq.ft in 2007, reflecting a +50% change. By 2012, the value reached Rs 2,000 per sq.ft, showing an increase of +167%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, indicating a drop of -33%. The value then climbed to Rs 2,000 per sq.ft in 2023, with a substantial increase of +49% before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +392%. There are no figures available for the revisions of the years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, and Block 3 Palaniappa Street's 2024 figure is above this median.

• Block 3 Muthukaruppa Street: Rs 1,650 per sq.ft (2024)
• Block 3 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 3 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 3 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 E V N Road: Rs 3,300 per sq.ft (2024)
• Block 4 Brough Road: Rs 6,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 3 Palaniappa Street?

The Sub Registrar Office that covers Block 3 Palaniappa 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers adhere to the legal requirements set forth by the registration authorities. This helps maintain transparency in property transactions within the region.

Frequently asked questions

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

The current guideline value of Block 3 Palaniappa Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 447 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +392% over the years.

What is the land classification for Block 3 Palaniappa Street?

The land classification for Block 3 Palaniappa Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Block 3 Palaniappa Street?

The Sub Registrar Office for Block 3 Palaniappa Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property in Block 3 Palaniappa Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 1,98,000 for stamp duty and registration fees combined.