Guideline Value for Block 32 West Perumal Kovil Street

Block 32 West Perumal Kovil Street guideline value

The current guideline value of Block 32 West 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 West Perumal Kovil Street has changed

The guideline value for Block 32 West Perumal Kovil Street has seen several revisions over the years. In 2002, the guideline value was Rs 572 per sq.ft. It increased to Rs 641 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, a 17% increase. By 2012, the value had increased to Rs 1,250 per sq.ft, reflecting a 67% increase from 2007. However, it dropped to Rs 837 per sq.ft in 2017, a decrease of 33% from the previous revision. The value then rose significantly to Rs 1,250 per sq.ft in 2023, a 49% increase. The current value of Rs 1,375 per sq.ft in 2024 represents a 10% increase from 2023.

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. The median value is Rs 1,375 per sq.ft, which is equal to the current figure for Block 32 West Perumal Kovil Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the guideline value would be 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, totaling Rs 1,23,750. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Block 32 West 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ward C. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Block 32 West 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 572 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 140% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 32 West Perumal Kovil Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Block 32 West Perumal Kovil Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the applicable stamp duty and registration fees during a property transaction.