Guideline Value for Block 33 Sokkanatha Street

Block 33 Sokkanatha Street guideline value

The current guideline value of Block 33 Sokkanatha Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 33 Sokkanatha Street has changed

The guideline value for Block 33 Sokkanatha Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 571 per sq.ft. This increased to Rs 640 per sq.ft in 2003, followed by a rise to Rs 750 per sq.ft in 2007. The 2012 revision saw a significant increase to Rs 2,500 per sq.ft, but then it decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft. There are no figures available for the years not listed in the register.

From 2002 to 2024, the overall change in the guideline value is an increase of 382%. Notably, the value jumped by 233% from 2007 to 2012, while it saw a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 is an increase of 10%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value in this area is Rs 1,375 per sq.ft, placing Block 33 Sokkanatha Street's 2024 figure above that median.

• Block 33 Sengoda Street Lane: Rs 1,100 per sq.ft (2024)
• Block 33 Venkatachalam Street Main Street: Rs 2,750 per sq.ft (2024)
• Block 33 Sathy (or) Veerapathira Road: Rs 2,750 per sq.ft (2024)
• Block 33 West Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 33 Ramasamy Street: Rs 1,100 per sq.ft (2024)
• Block 34 Brough Road Main Road Part 1: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Block 33 Sokkanatha Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 33 Sokkanatha Street?

The Sub Registrar Office that covers Block 33 Sokkanatha 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 an important factor during property registration in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value will influence the overall costs involved in the transaction.

When you register a property, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is documented accurately and that the government receives the appropriate revenue from property sales in the area.

Frequently asked questions

What is the current guideline value of Block 33 Sokkanatha Street?

The current guideline value of Block 33 Sokkanatha Street is Rs 2,750 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 2,750 per sq.ft in 2024, reflecting an overall increase of 382% over this period.

What are the stamp duty and registration fees for property in Block 33 Sokkanatha Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the current guideline value of Rs 27,50,000.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 33 Sokkanatha Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the land classification of Block 33 Sokkanatha Street?

Block 33 Sokkanatha Street is classified as Commercial Class I Type - III, which influences its guideline value and potential uses.