Guideline Value for Block 37 Prakasham Street

Block 37 Prakasham Street guideline value

The current guideline value of Block 37 Prakasham Street is Rs 3,300 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 Commercial Class I Type - II.

How the guideline value of Block 37 Prakasham Street has changed

The guideline value of Block 37 Prakasham Street has seen several revisions over the years. In 2002, the guideline value was Rs 958 per sq.ft, which increased to Rs 1,073 per sq.ft in 2003, marking a change of +12%. The value continued to rise significantly to Rs 2,000 per sq.ft in 2007, an increase of +86%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a +50% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of -33%. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 shows a further increase to Rs 3,300 per sq.ft, which is a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +244%. There are no figures available for revisions in years not listed in the register for this street.

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 guideline value in this area is Rs 1,375 per sq.ft, placing Block 37 Prakasham Street's 2024 figure above that median.

• Block 37 Pon Street: Rs 4,400 per sq.ft (2024)
• Block 37 Sivashanmugam Street: Rs 3,300 per sq.ft (2024)
• Block 37 Nethaji Street: Rs 4,400 per sq.ft (2024)
• Block 38 Annaji Street: Rs 3,300 per sq.ft (2024)
• Block 37 Muthurangam Street: Rs 3,300 per sq.ft (2024)
• Block 38 Brough Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block 37 Prakasham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Block 37 Prakasham Street?

The Sub Registrar Office that covers Block 37 Prakasham 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 of 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 sale or purchase of property.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs associated with the transaction. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 37 Prakasham Street?

The current guideline value of Block 37 Prakasham Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 958 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +244% over the years.

What is the land classification for Block 37 Prakasham Street?

Block 37 Prakasham Street is classified as Commercial Class I Type - II.

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

The Sub Registrar Office for Block 37 Prakasham 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 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 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.