Guideline Value for Block 32 South Perumal Kovil Street

Block 32 South Perumal Kovil Street guideline value

The current guideline value of Block 32 South Perumal Kovil Street is Rs 1,375 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 I Type - III.

How the guideline value of Block 32 South Perumal Kovil Street has changed

The guideline value for Block 32 South Perumal Kovil Street has undergone several revisions since 2002. The value started at Rs 571 per sq.ft in 2002 and increased to Rs 640 per sq.ft in 2003. Following this, it rose to Rs 750 per sq.ft in 2007, then to Rs 1,250 per sq.ft in 2012. However, it saw a decrease to Rs 837 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,250 per sq.ft in 2023 and finally to Rs 1,375 per sq.ft in 2024. Notably, there are no figures for this street in the revisions for the years not mentioned.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The guideline value saw a significant increase of 67% from 2007 to 2012 and a 17% rise from 2003 to 2007. The increase from 2002 to 2003 was 12%. Overall, from 2002 to 2024, the guideline value has risen by 141%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with the 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value is Rs 1,375 per sq.ft, which matches the guideline value for Block 32 South Perumal Kovil Street.

• Block 32 Sathy (or) Veerapathira Street: Rs 2,750 per sq.ft (2024)
• Block 32 West Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 32 North Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 33 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 33 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 33 Easwaran Kovil Street Lane: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 32 South Perumal Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, resulting in a total of Rs 1,23,750. It is important to 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 more details.

Which Sub Registrar Office covers Block 32 South Perumal Kovil Street?

The Sub Registrar Office that covers Block 32 South Perumal Kovil 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 C

The guideline value is a crucial factor in property transactions in Ward C. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 32 South Perumal Kovil Street?

The current guideline value of Block 32 South Perumal Kovil Street is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 571 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, marking an overall increase of 141% over this period.

What is the land classification for Block 32 South Perumal Kovil Street?

Block 32 South Perumal Kovil Street is classified as Residential Class I Type - III.

Where can I find the registration office for this property?

The registration office for Block 32 South Perumal Kovil 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,75,000, the stamp duty at 7% would be Rs 96,250.