Guideline Value for Block 30 Kamala Street (or) Kothukara Nalla Street

Block 30 Kamala Street (or) Kothukara Nalla Street guideline value

The current guideline value for Block 30 Kamala Street (or) Kothukara Nalla Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 30 Kamala Street (or) Kothukara Nalla Street has changed

The guideline value for this street has undergone several revisions over the years. In 2002, the value was Rs 369 per sq.ft, which increased to Rs 414 per sq.ft in 2003, marking a rise of 12%. The value then continued to rise to Rs 500 per sq.ft in 2007, a 21% increase. Following this, the value saw a significant jump to Rs 750 per sq.ft in 2012, which was a 50% increase. However, it then dropped to Rs 502 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 brought the value up to Rs 750 per sq.ft, a notable increase of 49%, and the latest revision in 2024 set the value at Rs 825 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 124%. There are no figures available for any other revisions for this street.

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, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 30 Kamala Street (or) Kothukara Nalla Street is below this median.

• Block 30 Kamarajar Street: Rs 2,750 per sq.ft (2024)
• Block 30 Alagiri Singaiyankar Street: Rs 1,100 per sq.ft (2024)
• Block 2 Vinayakar Street 1,2: Rs 772 per sq.ft (2024)
• Block 30 Muncipality Road: Rs 825 per sq.ft (2024)
• Block 2 RajaGopal Garden: Rs 771 per sq.ft (2024)
• Block 30 Seeranga Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 30 Kamala Street (or) Kothukara Nalla Street

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, making the total charges Rs 74,250. It is important to note that the 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 30 Kamala Street (or) Kothukara Nalla Street?

The Sub Registrar Office that covers Block 30 Kamala Street (or) Kothukara Nalla 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the current market conditions as determined by the guideline values set by the authorities.

Frequently asked questions

What is the current guideline value for Block 30 Kamala Street (or) Kothukara Nalla Street?

The current guideline value for Block 30 Kamala Street (or) Kothukara Nalla Street 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 from Rs 369 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting a total increase of 124% over the years.

What is the land classification for this street?

Block 30 Kamala Street (or) Kothukara Nalla Street is classified as Residential Class II Type - II.

Which office handles registrations for this area?

The Erode Joint I Sub Registrar Office handles registrations for Block 30 Kamala Street (or) Kothukara Nalla Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

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 would incur a total charge of Rs 74,250, including stamp duty and registration fees.