Guideline Value for Block 37 Sivashanmugam Street

Block 37 Sivashanmugam Street guideline value

The current guideline value of Block 37 Sivashanmugam 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 Sivashanmugam Street has changed

The guideline value for Block 37 Sivashanmugam Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 958 per sq.ft. This increased to Rs 1,073 per sq.ft in 2003, marking a rise of 12%. The following revisions showed significant changes, with the value reaching Rs 2,000 per sq.ft in 2007, an increase of 86%. In 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a 50% increase from the previous revision. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, followed by the current figure of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 244%. There are no recorded figures for any other years for this street in the register.

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, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 37 Sivashanmugam Street is above this median.

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

Stamp duty and registration fee for property in Block 37 Sivashanmugam 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 37 Sivashanmugam Street?

The Sub Registrar Office covering Block 37 Sivashanmugam 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 crucial factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

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

The current guideline value of Block 37 Sivashanmugam 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% across the years.

What is the land classification for Block 37 Sivashanmugam Street?

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

Where is the Sub Registrar Office for this street located?

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 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, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 2,97,000.