Guideline Value for Block 6 Cross Street

Block 6 Cross Street guideline value

The current guideline value for Block 6 Cross 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, with a land classification of Residential Class III Type - I.

How the guideline value of Block 6 Cross Street has changed

The guideline value for Block 6 Cross Street has undergone several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 276 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007, a +27% increase. Following this, the 2012 revision set the value at Rs 500 per sq.ft, reflecting a +43% change. However, between 2017 and 2012, the value decreased to Rs 335 per sq.ft, showing a -33% change. The value saw a significant rise to Rs 700 per sq.ft in 2023, which was a +109% increase from 2017. The most recent revision in 2024 has set the value at Rs 771 per sq.ft, a +10% increase from the previous year.

There are no figures available for the revisions of years not listed in the register 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. The median value for these streets is Rs 825 per sq.ft, indicating that the guideline value for Block 6 Cross Street is below this median.

• Block 5 Vannara Street: Rs 771 per sq.ft (2024)
• Block 6 Krishthuvar Street: Rs 771 per sq.ft (2024)
• Block 6 Kuppakatthan Lane: Rs 771 per sq.ft (2024)
• Block 6 Nadu Street: Rs 771 per sq.ft (2024)
• Block 6 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 6 New Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 6 Cross Street?

The Sub Registrar Office that covers Block 6 Cross 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 when registering property transactions in Ward E. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recorded and appropriate taxes are levied.

When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Block 6 Cross Street?

The current guideline value for Block 6 Cross 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 experienced significant changes, increasing from Rs 244 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, which is an overall increase of +216%.

What are the stamp duty and registration fees for properties in Block 6 Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,71,000. The stamp duty at 7% is Rs 53,970, and the registration fee at 2% is Rs 15,420, totaling Rs 69,390.

Which Sub Registrar Office covers Block 6 Cross Street?

The Erode Joint I Sub Registrar Office covers Block 6 Cross Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for property transactions, impacting the stamp duty and registration fees that buyers need to pay. It is essential for ensuring that property transactions are officially recorded and taxed appropriately.