Guideline Value for Block 35 Sokkanatha Street Part 1

Block 35 Sokkanatha Street Part 1 guideline value

The current guideline value for Block 35 Sokkanatha Street Part 1 is Rs 2,750 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 - III land classification.

How the guideline value of Block 35 Sokkanatha Street Part 1 has changed

The guideline value for Block 35 Sokkanatha Street Part 1 has seen several revisions over the years. In 2002, the guideline value was Rs 719 per sq.ft. This increased to Rs 806 per sq.ft in 2003, marking a rise of 12%. The value then saw a significant increase to Rs 1,500 per sq.ft in 2007, which was an 86% jump. The 2012 revision brought the value down to Rs 2,500 per sq.ft, reflecting a decrease of 33%. However, the value rose again to Rs 1,675 per sq.ft in 2017, a 49% increase from the previous revision. In 2023, the guideline value was set at Rs 2,500 per sq.ft, 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 282%. There are no figures available for the revisions in years other than those mentioned.

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, making the 2024 figure for Block 35 Sokkanatha Street Part 1 above this median.

• Block 35 Nethaji Street Part 1: Rs 4,400 per sq.ft (2024)
• Block 35 South Anumantharayar Kovil Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 35 Easwaran Kovil Street Part: Rs 4,400 per sq.ft (2024)
• Block 35 Thiruvenkatasamy Street: Rs 3,300 per sq.ft (2024)
• Block 35 East Anumantharayan Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 35 West Anumantharayar Kovil Street Part 1: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 35 Sokkanatha Street Part 1

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, bringing the total to Rs 2,47,500. 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 35 Sokkanatha Street Part 1?

The Sub Registrar Office that covers Block 35 Sokkanatha Street Part 1 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ward C. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately, reflecting the property's worth as determined by the local authorities. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Block 35 Sokkanatha Street Part 1?

The current guideline value for Block 35 Sokkanatha Street Part 1 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 719 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 282% over this period.

What is the land classification for Block 35 Sokkanatha Street Part 1?

Block 35 Sokkanatha Street Part 1 is classified under Commercial Class I Type - III land classification.

Where is the Sub Registrar Office located for this property?

The Erode Joint I Sub Registrar Office is 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 27,50,000, the stamp duty at 7% would be Rs 1,92,500.