Guideline Value for Block 4 Vinayagar Kovil Street

Block 4 Vinayagar Kovil Street guideline value

The current guideline value for Block 4 Vinayagar Kovil Street is Rs 771 per sq.ft. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 4 Vinayagar Kovil Street has changed

The guideline value for Block 4 Vinayagar Kovil Street has seen several revisions over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 209 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 300 per sq.ft in 2007, a 44% increase, followed by a significant jump to Rs 500 per sq.ft in 2012, reflecting a 67% growth. However, from 2012 to 2017, the value decreased by 33%, bringing it down to Rs 335 per sq.ft. The value then surged to Rs 700 per sq.ft in 2023, a notable 109% increase. The most recent revision in 2024 set the guideline value at Rs 771 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned 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 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, placing Block 4 Vinayagar Kovil Street's 2024 figure below that median.

• Block 5 Arumugam Road (or) Poongundranar Street: Rs 825 per sq.ft (2024)
• Block 5 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 4 Pachiyamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 5 K.N.Kuppusamy Road: Rs 1,100 per sq.ft (2024)
• Block 5 Krishnampalayam Road: Rs 825 per sq.ft (2024)
• Block 4 Krishnampalayam Road 1 to 3 Part 2: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Vinayagar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty, calculated at 7%, would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, leading to a total of Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 4 Vinayagar Kovil Street?

The Sub Registrar Office that covers Block 4 Vinayagar Kovil 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 property transactions within Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is utilized to calculate the applicable duties and fees, ensuring that both parties are aware of the financial implications of their transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Block 4 Vinayagar Kovil Street?

The current guideline value for Block 4 Vinayagar Kovil Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 186 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 315% over the years.

What is the stamp duty for property in Block 4 Vinayagar Kovil Street?

The stamp duty for property in Block 4 Vinayagar Kovil Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 53,970.

Where is the Sub Registrar Office for Block 4 Vinayagar Kovil Street located?

The Sub Registrar Office for Block 4 Vinayagar Kovil Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for these calculations, ensuring transparency and compliance with local regulations.