Guideline Value for Block 3 Vaiyapuri Lane

Block 3 Vaiyapuri Lane guideline value

The current guideline value for Block 3 Vaiyapuri Lane is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward D village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 3 Vaiyapuri Lane has changed

The guideline value for Block 3 Vaiyapuri Lane has seen several revisions over the years. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 157 per sq.ft in 2003, marking a change of +13%. The value continued to rise, reaching Rs 250 per sq.ft in 2007, an increase of +59%. By 2012, the value had risen to Rs 500 per sq.ft, reflecting a +100% change from the previous revision. However, it decreased to Rs 335 per sq.ft in 2017, a drop of -33%. The value then surged to Rs 700 per sq.ft in 2023, showing a significant increase of +109%, and finally stands at Rs 770 per sq.ft in 2024, a +10% change from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +454%.

Guideline values in Ward D

In Ward D, there are 200 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 area is Rs 798 per sq.ft, placing Block 3 Vaiyapuri Lane's 2024 figure below that median.

• Block 3 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)
• Block 4 Arasilango Street: Rs 770 per sq.ft (2024)
• Block 4 Ayyamperumal Lane: Rs 770 per sq.ft (2024)
• Block 4 Cauvery Road: Rs 1,925 per sq.ft (2024)
• Block 4 Chinna Mariamman Koil Street: Rs 770 per sq.ft (2024)
• Block 3 Muthukaruppan Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Vaiyapuri Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be 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. Please note that 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 further calculations.

Which Sub Registrar Office covers Block 3 Vaiyapuri Lane?

The Sub Registrar Office that covers Block 3 Vaiyapuri Lane 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 D

The guideline value is an important factor in property transactions in Ward D. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value assists in calculating the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Block 3 Vaiyapuri Lane?

The current guideline value for Block 3 Vaiyapuri Lane 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 significantly from Rs 139 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +454% over this period.

What is the classification of land in Block 3 Vaiyapuri Lane?

Block 3 Vaiyapuri Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Ward D?

Stamp duty for properties in Ward D is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.