Guideline Value for Block 5 Oppanakara Street (Kundhavai Street)

Block 5 Oppanakara Street (Kundhavai Street) guideline value

The current guideline value of Block 5 Oppanakara Street (Kundhavai Street) is Rs 771 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 III Type - I.

How the guideline value of Block 5 Oppanakara Street (Kundhavai Street) has changed

The guideline value for Block 5 Oppanakara Street (Kundhavai Street) has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 500 per sq.ft. This increased to Rs 335 per sq.ft in 2017, then rose significantly to Rs 700 per sq.ft in 2023, and finally reached Rs 771 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value surged by 109%. Overall, from 2012 to 2024, the guideline value increased by 54%. The register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Ward E

In Ward E, there are a total of 196 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, indicating that the 2024 value for Block 5 Oppanakara Street (Kundhavai Street) is below this median.

• Block 5 New Street: Rs 825 per sq.ft (2024)
• Block 5 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 5 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Poombuhar Street): Rs 771 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Maraimalaiadigal Street): Rs 771 per sq.ft (2024)
• Block 5 Vannara Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Oppanakara Street (Kundhavai 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, while the registration fee at 2% would be Rs 15,420, leading to a combined total of Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 5 Oppanakara Street (Kundhavai Street)?

The Sub Registrar Office that covers Block 5 Oppanakara Street (Kundhavai 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 plays a crucial role in the registration process of property transactions in Ward E. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Block 5 Oppanakara Street (Kundhavai Street)?

The current guideline value of Block 5 Oppanakara Street (Kundhavai 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 significantly, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, then rising to Rs 700 per sq.ft in 2023, and finally reaching Rs 771 per sq.ft in 2024.

What is the land classification for Block 5 Oppanakara Street (Kundhavai Street)?

Block 5 Oppanakara Street (Kundhavai Street) is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Block 5 Oppanakara Street (Kundhavai Street) is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,970.