Guideline Value for Block 33 Venkatachalam Street Main Street

Block 33 Venkatachalam Street Main Street guideline value

The current guideline value for Block 33 Venkatachalam Street Main 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, classified as Commercial Class I Type - III.

How the guideline value of Block 33 Venkatachalam Street Main Street has changed

The guideline value for Block 33 Venkatachalam Street Main Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 810 per sq.ft. This increased to Rs 908 per sq.ft in 2003, marking a 12% rise. In 2007, the value jumped to Rs 1,000 per sq.ft, a 10% increase. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, reflecting a significant 150% increase. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 240%. It is important to note that there are no figures available for the revisions in years other than those specified.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, positioning Block 33 Venkatachalam Street Main Street above that median.

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

Stamp duty and registration fee for property in Block 33 Venkatachalam Street Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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, bringing the total cost to Rs 2,47,500. It is important to note that the stamp 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 Venkatachalam Street Main Street?

The Sub Registrar Office covering Block 33 Venkatachalam Street Main 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

When buying or selling property in Ward C, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it influences the overall transaction costs. It is advisable to check the latest guideline values to ensure accurate calculations during the registration process.

Frequently asked questions

What is the current guideline value of Block 33 Venkatachalam Street Main Street?

The current guideline value of Block 33 Venkatachalam Street Main 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 significantly, from Rs 810 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 240% over the years.

What is the registration office for this street?

The registration office for Block 33 Venkatachalam Street Main 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 for properties in Block 33 Venkatachalam Street Main Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

What are the guideline values for other streets in Ward C?

Other streets in Ward C have varying guideline values. For example, Block 33 Sokkanatha Street and Block 33 Sathy (or) Veerapathira Road both have a guideline value of Rs 2,750 per sq.ft, while Block 34 Brough Road Main Road Part 1 has a value of Rs 4,400 per sq.ft.