Guideline Value for Block 34 Easwaran Kovil Street Part 1

Block 34 Easwaran Kovil Street Part 1 guideline value

The current guideline value of Block 34 Easwaran Kovil Street Part 1 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ward C under the Erode Joint I SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Block 34 Easwaran Kovil Street Part 1 has changed

The guideline value for Block 34 Easwaran Kovil Street Part 1 has seen several revisions over the years. In 2002, the guideline value was Rs 1,204 per sq.ft. This increased to Rs 1,349 per sq.ft in 2003, marking a change of +12%. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, which was a +48% increase. By 2012, the value was Rs 4,000 per sq.ft, reflecting a significant +100% increase from the previous revision. However, there was a decrease to Rs 2,680 per sq.ft in 2017, showing a -33% change. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by the current value of Rs 4,400 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +265%. The register has no figure for the years not mentioned in the revisions.

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. The median guideline value in this area is Rs 1,375 per sq.ft, making Block 34 Easwaran Kovil Street Part 1's 2024 figure above that median.

• Block 34 Brough Road Main Road Part 1: Rs 4,400 per sq.ft (2024)
• Block 34 Kamarajar Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 33 West Perumal Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 34 N.M.S. Compound: Rs 2,200 per sq.ft (2024)
• Block 33 Venkatachalam Street Main Street: Rs 2,750 per sq.ft (2024)
• Block 34 N.M.S. Layout: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 34 Easwaran Kovil Street Part 1

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Block 34 Easwaran Kovil Street Part 1?

The Sub Registrar Office that covers Block 34 Easwaran Kovil Street Part 1 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate the applicable fees, ensuring that all transactions adhere to the legal requirements set by the state.

When purchasing property, the guideline value helps in assessing the fair value of the property being sold. It ensures transparency in the transaction, protecting both the buyer and the seller from undervaluation or overvaluation of the property.

Frequently asked questions

What is the current guideline value of Block 34 Easwaran Kovil Street Part 1?

The current guideline value of Block 34 Easwaran Kovil Street Part 1 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,204 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +265% over the years.

What is the land classification for Block 34 Easwaran Kovil Street Part 1?

Block 34 Easwaran Kovil Street Part 1 is classified as Commercial Class I Type - I land.

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

The Sub Registrar Office for Block 34 Easwaran Kovil Street Part 1 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 property transactions?

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 44,00,000, the stamp duty at 7% would amount to Rs 3,08,000.