Guideline Value for Block 5 New Street

Block 5 New Street guideline value

The current guideline value of Block 5 New Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 5 New Street has changed

The guideline value of Block 5 New Street has undergone several revisions over the years. The 2002 revision recorded a guideline value of Rs 324 per sq.ft, which increased to Rs 367 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 400 per sq.ft in 2007, an increase of +9%. Following this, the 2012 revision saw the value rise significantly to Rs 750 per sq.ft, reflecting an increase of +88%. However, in 2017, the value dropped to Rs 502 per sq.ft, a decrease of -33%. The 2023 revision set the value at Rs 750 per sq.ft, and the most recent 2024 revision established the current value at Rs 825 per sq.ft, a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +155%. The register has no figure for the revisions in years prior to 2002 or any future revisions not listed.

Guideline values in Ward E

In Ward E, the guideline values for 196 streets under the Erode Joint I SRO range from Rs 770 to Rs 6,600 per sq.ft, with the median being Rs 825 per sq.ft. Block 5 New Street's 2024 figure is equal to this median.

• Block 5 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Poombuhar Street): Rs 771 per sq.ft (2024)
• Block 5 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Maraimalaiadigal Street): Rs 771 per sq.ft (2024)
• Block 5 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 5 Cutcheri Street: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 74,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 5 New Street?

The Sub Registrar Office that covers Block 5 New 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 E

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the authorities.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Block 5 New Street?

The current guideline value of Block 5 New 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 324 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +155% over the years.

What are the stamp duty and registration fees for a property in Block 5 New Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which Sub Registrar Office covers this area?

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

What is the land classification for Block 5 New Street?

Block 5 New Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.