Guideline Value for Block 5 Kalaimagal School Road

Block 5 Kalaimagal School Road guideline value

The current guideline value of Block 5 Kalaimagal School Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Ward B village under the Erode Joint I SRO, and the land classification is Residential Special Type - I.

How the guideline value of Block 5 Kalaimagal School Road has changed

The guideline value for Block 5 Kalaimagal School Road has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 545 per sq.ft. This value increased to Rs 611 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,250 per sq.ft in 2007, which is an increase of +105%. After a decrease to Rs 2,000 per sq.ft in 2012, the value dropped by -33% before increasing again to Rs 1,340 per sq.ft in 2017, a rise of +49%. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, which then increased to the current rate of Rs 2,200 per sq.ft in 2024, reflecting a change of +10%.

There are no figures available for revisions in years other than those listed. The overall increase from 2002 to 2024 is +304%, showcasing the significant changes in the guideline value over the years.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a guideline value for 2024, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 5 Kalaimagal School Road above this median.

• Block 5 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 5 Pavadai Street: Rs 1,100 per sq.ft (2024)
• Block 4 Pavadai Street: Rs 1,100 per sq.ft (2024)
• Block 6 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 4 Muthusamy Sandu: Rs 1,100 per sq.ft (2024)
• Block 6 Kalaimagal School Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Kalaimagal School Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Kalaimagal School Road?

The Sub Registrar Office that covers Block 5 Kalaimagal School Road 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 B

The guideline value is a critical factor when registering a property in Ward B. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they comply with legal requirements and accurately assess their financial obligations.

When a property is sold, the guideline value helps establish the minimum value for taxation purposes. Hence, it is essential for both buyers and sellers to understand the implications of the guideline value on their transactions.

Frequently asked questions

What is the current guideline value for Block 5 Kalaimagal School Road?

The current guideline value for Block 5 Kalaimagal School Road is Rs 2,200 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 545 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +304% over the years.

What is the land classification for Block 5 Kalaimagal School Road?

The land classification for Block 5 Kalaimagal School Road is Residential Special Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for this area?

The Erode Joint I Sub Registrar Office handles property registrations for Block 5 Kalaimagal School Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.