Guideline Value for Block 6 Jayagopal Street

Block 6 Jayagopal Street guideline value

The current guideline value of Block 6 Jayagopal Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 6 Jayagopal Street has changed

The guideline value for Block 6 Jayagopal Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 201 per sq.ft. In 2003, it increased to Rs 450 per sq.ft, marking a significant rise of 124%. The 2007 revision set the value at Rs 500 per sq.ft, which was an 11% increase. The value then rose to Rs 750 per sq.ft in 2012, reflecting a 50% increase. However, in 2017, the value decreased to Rs 502 per sq.ft, showing a decline of 33%. The 2023 revision brought the value up to Rs 750 per sq.ft, and the latest revision in 2024 has set it at Rs 825 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 310%. There are no figures available for this street in the years not mentioned above.

Guideline values in Ward C

Ward C village contains 250 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, indicating that the guideline value for Block 6 Jayagopal Street is below this median.

• Block 6 Chinnappan Lay Out: Rs 825 per sq.ft (2024)
• Block 6 Kannaian Street 1,2,3: Rs 1,100 per sq.ft (2024)
• Block 6 Chenniappa Street (or) Chinnappa Street: Rs 771 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Road: Rs 1,100 per sq.ft (2024)
• Block 6 Krishnampalayam Road: Rs 825 per sq.ft (2024)
• Block 6 Bramin Extension Poongundranar Street: Rs 825 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value is Rs 8,25,000. The stamp duty, charged at 7%, amounts to Rs 57,750, while the registration fee at 2% is Rs 16,500. Together, the total cost for these fees is Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 6 Jayagopal Street?

The Sub Registrar Office that covers Block 6 Jayagopal 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 C

The guideline value plays a crucial role when buying or selling property in Ward C. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property transaction occurs, the guideline value is assessed to determine the applicable fees. This value is essential for both parties to understand as it influences the overall cost of the transaction, including the stamp duty and registration fees that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Block 6 Jayagopal Street?

The current guideline value of Block 6 Jayagopal Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 310% over this period.

What are the stamp duty and registration fees for property in Block 6 Jayagopal Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 57,750 and the registration fee is Rs 16,500, amounting to a total of Rs 74,250.

Which office registers properties in Block 6 Jayagopal Street?

The Erode Joint I Sub Registrar Office is responsible for registering properties in Block 6 Jayagopal Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for these fees, which are mandatory for the registration process.