Guideline Value for Block 5 Sengutuvan Lane

Block 5 Sengutuvan Lane guideline value

The current guideline value for Block 5 Sengutuvan Lane is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward D village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 5 Sengutuvan Lane has changed

The guideline value for Block 5 Sengutuvan Lane has undergone several revisions over the years. In 2002, the guideline value was Rs 146 per sq.ft. This increased to Rs 164 per sq.ft in 2003, marking a change of +12%. The value continued to rise, reaching Rs 250 per sq.ft in 2007, which was a +52% increase. In 2012, the value adjusted to Rs 400 per sq.ft, reflecting a -16% change. The 2017 revision saw a significant increase to Rs 335 per sq.ft, which was a +109% change from the previous revision. The guideline value then rose to Rs 700 per sq.ft in 2023, before reaching the current rate of Rs 770 per sq.ft in 2024, indicating a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +427%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO with 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 Sengutuvan Lane's 2024 figure below that median.

• Block 5 Ponnusamy Street: Rs 770 per sq.ft (2024)
• Block 5 Veerappa Street: Rs 771 per sq.ft (2024)
• Block 5 North Chinna Mariamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 6 Cauvery Main Road: Rs 1,925 per sq.ft (2024)
• Block 6 Chinna Mariamman Koil Street: Rs 771 per sq.ft (2024)
• Block 5 Kamatchiamman Kovil Theru: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Sengutuvan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 5 Sengutuvan Lane?

The Sub Registrar Office that covers Block 5 Sengutuvan Lane 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 D

The guideline value is a crucial factor in the registration process for buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial implications involved.

When a property is sold, the guideline value is assessed to calculate the necessary fees. Buyers should be informed that the duty is charged based on the higher of the guideline value or the sale price, which helps in establishing a fair transaction process.

Frequently asked questions

What is the current guideline value for Block 5 Sengutuvan Lane?

The current guideline value for Block 5 Sengutuvan Lane is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 146 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, representing an overall increase of +427%.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this property?

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

What is the classification of land for Block 5 Sengutuvan Lane?

Block 5 Sengutuvan Lane is classified as Residential Class III Type - I, which defines its use and potential development.