Guideline Value for Block 3 Samiyappa Street Main Road

Block 3 Samiyappa Street Main Road guideline value

The current guideline value of Block 3 Samiyappa Street Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward A village, under the Erode Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Block 3 Samiyappa Street Main Road has changed

The guideline value for Block 3 Samiyappa Street Main Road has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft. In the 2003 revision, it increased to Rs 320 per sq.ft, marking a significant rise of 205%. The 2007 revision saw a further increase to Rs 500 per sq.ft, which is a 56% change from the previous year.

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft, reflecting a 100% increase from the 2007 figure. However, this was followed by a decrease to Rs 670 per sq.ft in the 2017 revision, which represented a decline of 33%. The value then rose to Rs 1,000 per sq.ft in the 2023 revision, and finally, in the 2024 revision, it reached the current value of Rs 1,100 per sq.ft, an increase of 10% from the previous year.

Guideline values in Ward A

In Ward A, there are 111 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 1,375 per sq.ft, placing Block 3 Samiyappa Street Main Road below that median.

• Block 3 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 3 Thirunagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 4 Chinnappa Layout 1 & 2: Rs 770 per sq.ft (2024)
• Block 3 Chinnappa Layout Huts: Rs 770 per sq.ft (2024)
• Block 3 Chinnappa Layout 1 2: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Samiyappa Street Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 3 Samiyappa Street Main Road?

The Sub Registrar Office that covers Block 3 Samiyappa Street Main Road 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 A

The guideline value plays a crucial role in property transactions, serving as a benchmark for calculating stamp duty and registration fees. Buyers and sellers must consider this value during the registration process, as it influences the overall cost of the transaction.

When a property is sold, the guideline value is used to determine the applicable fees, ensuring that both parties are aware of the financial obligations involved. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 3 Samiyappa Street Main Road?

The current guideline value of Block 3 Samiyappa Street Main Road 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 105 in 2002 to Rs 1,100 in 2024, reflecting an overall increase of 948% over the years.

What is the classification of the land in Block 3 Samiyappa Street Main Road?

The land in Block 3 Samiyappa Street Main Road is classified as Residential Class II Type - I.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for this property?

The Erode Joint I Sub Registrar Office handles the registration for properties in Block 3 Samiyappa Street Main Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.