Guideline Value for Block 3 Vinayagar Kovil Street 1,2

Block 3 Vinayagar Kovil Street 1,2 guideline value

The current guideline value for Block 3 Vinayagar Kovil Street 1,2 is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 3 Vinayagar Kovil Street 1,2 has changed

The guideline value for Block 3 Vinayagar Kovil Street 1,2 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 186 per sq.ft, which increased to Rs 209 per sq.ft in 2003. Following that, the value rose to Rs 300 per sq.ft in 2007, then to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The value then increased significantly to Rs 700 per sq.ft in 2023, and the most recent revision has set the value at Rs 771 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 315%. Notably, the increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 109%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 3 Vinayagar Kovil Street 1,2 is below this median.

• Block 3 T.Krishnan St: Rs 772 per sq.ft (2024)
• Block 4 Azhakarasan Nagar: Rs 771 per sq.ft (2024)
• Block 4 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 4 Ganapathipuram Part 1: Rs 825 per sq.ft (2024)
• Block 3 Krishnampalayam Part 1,2: Rs 825 per sq.ft (2024)
• Block 4 Krishnampalayam Road 1 to 3 Part 2: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Vinayagar Kovil Street 1,2

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 more details.

Which Sub Registrar Office covers Block 3 Vinayagar Kovil Street 1,2?

The Erode Joint I Sub Registrar Office covers Block 3 Vinayagar Kovil Street 1,2. The office is 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 C

The guideline value is a critical factor during property registration in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is referenced to calculate the necessary fees. The registration office uses this value to assess the total cost of the transaction, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Block 3 Vinayagar Kovil Street 1,2?

The current guideline value for Block 3 Vinayagar Kovil Street 1,2 is Rs 771 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 771 per sq.ft in 2024, reflecting an overall increase of 315% over this period.

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

For a 1,000 sq.ft plot, the stamp duty is Rs 53,970, and the registration fee is Rs 15,420, totaling Rs 69,390 based on the current guideline value.

Which office handles the registration for this street?

The Erode Joint I Sub Registrar Office handles the registration for Block 3 Vinayagar Kovil Street 1,2, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 3 Vinayagar Kovil Street 1,2?

The land classification for Block 3 Vinayagar Kovil Street 1,2 is Residential Class III Type - I.