Guideline Value for Block 5 Vannara Street

Block 5 Vannara Street guideline value

The current guideline value of Block 5 Vannara 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 5 Vannara Street has changed

The guideline value for Block 5 Vannara Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 234 per sq.ft. This increased to Rs 295 per sq.ft in 2003, marking a change of +26%. The value then rose to Rs 350 per sq.ft in 2007, reflecting a +19% increase. In 2012, the value changed to Rs 500 per sq.ft, which was a +43% increase. However, the value decreased to Rs 335 per sq.ft in 2017, showing a decline of -33%. The following revision in 2023 brought the value up to Rs 700 per sq.ft, a significant increase of +109%. Finally, the current value of Rs 771 per sq.ft in 2024 represents an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +229%. There are no figures recorded in the register for any other years for this street.

Guideline values in Ward E

In Ward E, there are 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, with a median value of Rs 825 per sq.ft. The guideline value of Block 5 Vannara Street is below this median.

• Block 5 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 5 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 6 Cross Street: Rs 771 per sq.ft (2024)
• Block 5 New Street: Rs 825 per sq.ft (2024)
• Block 5 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 5 Kristhuvar Kovil Street (Poombuhar Street): Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Vannara 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 be Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total cost Rs 69,390. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 5 Vannara Street?

The Sub Registrar Office that covers Block 5 Vannara 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers engage in a transaction, the guideline value is used to calculate the applicable taxes. This ensures that the government receives the appropriate revenue based on the established guideline values for properties in the area.

Frequently asked questions

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

The current guideline value of Block 5 Vannara 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 several times, starting from Rs 234 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, representing an overall increase of +229% over the years.

What is the registration office for Block 5 Vannara Street?

The registration office for Block 5 Vannara 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?

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 rate, the stamp duty would amount to Rs 53,970.

What are the other guideline values in Ward E?

In Ward E, the guideline values for other streets range from Rs 770 to Rs 6,600 per sq.ft, with the median being Rs 825 per sq.ft. Block 5 Vannara Street's guideline value is below this median.