Guideline Value for Block 6 Kannaian Street 1,2,3

Block 6 Kannaian Street 1,2,3 guideline value

The current guideline value for Block 6 Kannaian Street 1,2,3 is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward C, under the Erode Joint I SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Block 6 Kannaian Street 1,2,3 has changed

The guideline value for Block 6 Kannaian Street 1,2,3 has seen several revisions over the years. In 2002, the value was Rs 115 per sq.ft, which increased to Rs 129 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a 210% increase. Following this, the value reached Rs 1,000 per sq.ft in 2012, which was a 150% increase from the previous revision. However, it saw a decrease to Rs 670 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value increased by 49% to Rs 1,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year. There are no figures available for revisions in years not listed in the register.

Guideline values in Ward C

In Ward C, there are a total of 250 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 value for these streets is Rs 1,375 per sq.ft, placing Block 6 Kannaian Street 1,2,3 below that median value.

• 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 Jayagopal Street: Rs 825 per sq.ft (2024)
• Block 6 Chinnappan Lay Out: Rs 825 per sq.ft (2024)
• Block 6 Chenniappa Street (or) Chinnappa Street: Rs 771 per sq.ft (2024)
• Block 6 Pillaiyar Kovil Street 1,2: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Kannaian Street 1,2,3

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, together amounting to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 6 Kannaian Street 1,2,3?

The Sub Registrar Office that covers Block 6 Kannaian Street 1,2,3 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 C

The guideline value is a crucial factor when buying or selling property in Ward C. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly in the official records.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for Block 6 Kannaian Street 1,2,3?

The current guideline value for Block 6 Kannaian Street 1,2,3 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 115 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 857% over the years.

What is the land classification for Block 6 Kannaian Street 1,2,3?

Block 6 Kannaian Street 1,2,3 is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for this property located?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.