Guideline Value for Block 5 Arasilango Street

Block 5 Arasilango Street guideline value

The current guideline value for Block 5 Arasilango Street 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 is classified as Residential Class III Type - I.

How the guideline value of Block 5 Arasilango Street has changed

The guideline value for Block 5 Arasilango Street has seen several revisions over the years. In 2002, the guideline value was Rs 304 per sq.ft, which increased to Rs 341 per sq.ft in 2003, marking a 12% rise. Following this, the value rose to Rs 400 per sq.ft in 2007, a 17% increase. By 2012, the value had increased to Rs 500 per sq.ft, showing a 25% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, reflecting a decline of 33%. The value then saw a significant increase to Rs 700 per sq.ft in 2023, which was a 109% rise from the 2017 figure. The most recent revision in 2024 set the value at Rs 770 per sq.ft, a 10% increase from 2023.

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 153%.

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 5 Arasilango Street is below this median.

• Block 4 Vaiyapuri Sandhu: Rs 770 per sq.ft (2024)
• Block 5 Arumugam Street: Rs 771 per sq.ft (2024)
• Block 4 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)
• Block 4 Thoppai ya Lane: Rs 770 per sq.ft (2024)
• Block 5 Chinna Mariamman Koil Street: Rs 771 per sq.ft (2024)
• Block 4 Sekkizhar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Arasilango Street

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 be Rs 53,900, and the registration fee at 2% would amount to Rs 15,400, bringing the total fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 5 Arasilango Street?

The Sub Registrar Office that covers Block 5 Arasilango Street 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Ward D. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer intends to register a property, the guideline value ensures that the transaction reflects a fair valuation, which is essential for tax purposes. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 5 Arasilango Street?

The current guideline value for Block 5 Arasilango Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 304 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of 153% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 7,70,000. The stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Block 5 Arasilango Street?

The Erode Joint I Sub Registrar Office covers Block 5 Arasilango Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 5 Arasilango Street?

Block 5 Arasilango Street is classified as Residential Class III Type - I.