Guideline Value for Block 38 Prakasham Street

Block 38 Prakasham Street guideline value

The current guideline value for Block 38 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 38 Prakasham Street has changed

The guideline value for Block 38 Prakasham Street has seen several revisions since 2002. The 2002 revision set the guideline value at Rs 958 per sq.ft. This figure increased to Rs 1,073 per sq.ft in 2003, reflecting a change of +12%. The value then rose significantly to Rs 2,000 per sq.ft in 2007, marking an increase of +86% over the previous revision. In 2012, the guideline value reached Rs 3,000 per sq.ft, which was a +50% increase from 2007. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of -33% from the 2012 figure. The value then increased to Rs 3,000 per sq.ft in 2023, showing a +49% change. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a +10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by +244%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 38 Prakasham Street is above this median.

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

Stamp duty and registration fee for property in Block 38 Prakasham Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 38 Prakasham Street?

The Sub Registrar Office that covers Block 38 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward C. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When a property transaction occurs, the guideline value is used to determine the amount of stamp duty payable. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Block 38 Prakasham Street?

The current guideline value for Block 38 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 increased from Rs 958 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing a significant overall increase of +244% over the years.

What is the land classification for Block 38 Prakasham Street?

Block 38 Prakasham Street is classified as Commercial Class I Type - II under the Erode Joint I SRO.

What are the stamp duty and registration fees for property in Block 38 Prakasham Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office should I approach for transactions in Block 38 Prakasham Street?

The Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone, covers transactions for Block 38 Prakasham Street.