Guideline Value for Block 5 Arumugam Road (or) Poongundranar Street

Block 5 Arumugam Road (or) Poongundranar Street guideline value

The current guideline value for Block 5 Arumugam Road (or) Poongundranar Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 5 Arumugam Road (or) Poongundranar Street has changed

The guideline value for Block 5 Arumugam Road (or) Poongundranar Street has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in 2017. Following this, the value increased significantly to Rs 750 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 825 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median value for these streets is Rs 1,375 per sq.ft, which means that the guideline value for Block 5 Arumugam Road (or) Poongundranar Street is below the median.

• Block 4 Vinayagar Kovil Street: Rs 771 per sq.ft (2024)
• Block 5 Cauvery Road Main Road: Rs 1,925 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 Pachiyamman Kovil Street: Rs 771 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 5 Arumugam Road (or) Poongundranar Street

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, resulting in a total of Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 5 Arumugam Road (or) Poongundranar Street?

The Sub Registrar Office that covers Block 5 Arumugam Road (or) Poongundranar 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 is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Ward C, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a standard reference point for property values within the area. This ensures that buyers and sellers can make informed decisions based on the established values in the region.

Frequently asked questions

What is the current guideline value for Block 5 Arumugam Road (or) Poongundranar Street?

The current guideline value for Block 5 Arumugam Road (or) Poongundranar Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

What is the stamp duty for property in Block 5 Arumugam Road (or) Poongundranar Street?

The stamp duty for property in Block 5 Arumugam Road (or) Poongundranar Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 5 Arumugam Road (or) Poongundranar Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for this street?

Block 5 Arumugam Road (or) Poongundranar Street is classified as Residential Class II Type - II.