Guideline Value for Block 6 New Street

Block 6 New Street guideline value

The current guideline value for Block 6 New 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 is classified as Residential Class III Type - I.

How the guideline value of Block 6 New Street has changed

The guideline value for Block 6 New Street has seen several revisions over the years. In 2002, the guideline value was Rs 234 per sq.ft, which increased to Rs 265 per sq.ft in 2003, marking a 13% increase. The value then rose to Rs 350 per sq.ft in 2007, reflecting a 32% increase from the previous revision. By 2012, the value reached Rs 500 per sq.ft, showing a 43% increase. However, there was a significant drop to Rs 335 per sq.ft in 2017, which represented a decrease of 33%. The value then rose sharply to Rs 700 per sq.ft in 2023, a 109% increase, before reaching the current value of Rs 771 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 229%. There are no figures available for any revisions other than those listed above for Block 6 New 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 for Block 6 New Street is below this median.

• Block 6 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 6 Nadu Street: Rs 771 per sq.ft (2024)
• Block 6 Kuppakatthan Lane: Rs 771 per sq.ft (2024)
• Block 6 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 6 Krishthuvar Street: Rs 771 per sq.ft (2024)
• Block 6 Sivasanmugam Pillai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 New 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 amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total charges to Rs 69,390. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 6 New Street?

Block 6 New Street falls under the jurisdiction of 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 an essential factor during the registration of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions based on established values.

Frequently asked questions

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

The current guideline value for Block 6 New Street is Rs 771 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased 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 are the stamp duty and registration fees for property in Block 6 New Street?

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

Which Sub Registrar Office covers Block 6 New Street?

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

Where can I find more information about guideline values in Ward E?

You can find more information about guideline values in Ward E by visiting the official registration department's website or checking the specific streets listed under the Erode Joint I SRO.