Guideline Value for Block 5 North Chinna Mariamman Kovil Street

Block 5 North Chinna Mariamman Kovil Street guideline value

The current guideline value for Block 5 North Chinna Mariamman Kovil Street is Rs 771 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 II Type - III.

How the guideline value of Block 5 North Chinna Mariamman Kovil Street has changed

The guideline value for Block 5 North Chinna Mariamman Kovil Street has seen several revisions over the years. In 2002, the guideline value was Rs 270 per sq.ft, which increased to Rs 303 per sq.ft in 2003, marking a 12% rise. Following that, the value rose to Rs 350 per sq.ft in 2007, a 16% increase. The value further increased to Rs 600 per sq.ft in 2012, reflecting a 71% change. However, there was a decline to Rs 402 per sq.ft in 2017, which represented a 33% decrease. The value then saw a significant increase to Rs 700 per sq.ft in 2023, a 74% rise, and finally reached Rs 771 per sq.ft in 2024, showing a 10% increase from the previous year.

It is important to note that the register has no figure for this street for the years not mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 186%.

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. The median guideline value in this area is Rs 798 per sq.ft, placing Block 5 North Chinna Mariamman Kovil Street's 2024 figure below that median.

• Block 5 Ponnusamy Street: Rs 770 per sq.ft (2024)
• Block 5 Kamatchiamman Kovil Theru: Rs 825 per sq.ft (2024)
• Block 5 Sengutuvan Lane: Rs 770 per sq.ft (2024)
• Block 5 East Chinna Mariamman Koil Street: Rs 771 per sq.ft (2024)
• Block 5 Veerappa Street: Rs 771 per sq.ft (2024)
• Block 5 Chinna Mariamman Koil Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 North Chinna Mariamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total cost for these fees Rs 69,390. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 5 North Chinna Mariamman Kovil Street?

The Sub Registrar Office that covers Block 5 North Chinna Mariamman Kovil 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 information.

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

The guideline value is a critical factor when registering property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 5 North Chinna Mariamman Kovil Street?

The current guideline value of Block 5 North Chinna Mariamman 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 from Rs 270 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 186% over the years.

What is the land classification of Block 5 North Chinna Mariamman Kovil Street?

Block 5 North Chinna Mariamman Kovil Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 5 North Chinna Mariamman Kovil Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.