Guideline Value for Block 4 Palani Lane

Block 4 Palani Lane guideline value

The current guideline value of Block 4 Palani Lane is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward D village, under the Erode Joint I SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Block 4 Palani Lane has changed

The guideline value for Block 4 Palani Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 164 per sq.ft. This increased to Rs 185 per sq.ft in 2003, marking a change of +13%. The value continued to rise, reaching Rs 250 per sq.ft in 2007, which was a +35% increase. The 2012 revision saw a drop to Rs 500 per sq.ft, a decrease of -33%. However, this was followed by a significant increase to Rs 335 per sq.ft in 2017, reflecting a +109% change. The most recent revisions show the value at Rs 700 per sq.ft in 2023, and then it increased to Rs 770 per sq.ft in 2024, a rise of +10%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +370%.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft. The guideline value for Block 4 Palani Lane is below this median.

• Block 4 Parasuraman Lane: Rs 770 per sq.ft (2024)
• Block 4 Madurai Veran Kovil Sandhu: Rs 770 per sq.ft (2024)
• Block 4 Kumanan Street: Rs 770 per sq.ft (2024)
• Block 4 Sekkizhar Street: Rs 770 per sq.ft (2024)
• Block 4 Thoppai ya Lane: Rs 770 per sq.ft (2024)
• Block 4 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Palani Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 4 Palani Lane?

The Sub Registrar Office that covers Block 4 Palani Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 4 Palani Lane?

The current guideline value of Block 4 Palani Lane is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 164 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +370% over this period.

What are the stamp duty and registration fees for properties in Block 4 Palani Lane?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office is responsible for Block 4 Palani Lane?

The Erode Joint I Sub Registrar Office is responsible for Block 4 Palani Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 4 Palani Lane?

Block 4 Palani Lane is classified under Residential Class III Type - I, indicating its suitability for residential development.