Guideline Value for Block 6 Pillaiyar Kovil Street 1,2

Block 6 Pillaiyar Kovil Street 1,2 guideline value

The current guideline value for Block 6 Pillaiyar Kovil Street 1,2 is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward C, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 6 Pillaiyar Kovil Street 1,2 has changed

The guideline value for Block 6 Pillaiyar Kovil Street 1,2 has seen several revisions over the years. In 2002, the guideline value was Rs 156 per sq.ft, which increased to Rs 175 per sq.ft in 2003. The value then saw a significant rise to Rs 400 per sq.ft in 2007, followed by an increase to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The value then rose sharply to Rs 700 per sq.ft in 2023, and currently stands at Rs 771 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 394%. There are no figures available for the revisions in the years not mentioned above for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 6 Pillaiyar Kovil Street 1,2 is below this median.

• Block 6 PoonKundranar St: Rs 825 per sq.ft (2024)
• Block 6 Ranga Street: Rs 770 per sq.ft (2024)
• Block 6 Krishnampalayam Road: Rs 825 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Road: Rs 1,100 per sq.ft (2024)
• Block 6 Kannaian Street 1,2,3: Rs 1,100 per sq.ft (2024)
• Block 6 Veeraboyan Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Pillaiyar Kovil Street 1,2

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 cost for these fees to Rs 69,390. Please note that the 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 further calculations.

Which Sub Registrar Office covers Block 6 Pillaiyar Kovil Street 1,2?

The Sub Registrar Office covering Block 6 Pillaiyar Kovil Street 1,2 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 registering property transactions in Ward C. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable 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, which can affect the overall transaction costs.

Frequently asked questions

What is the current guideline value for Block 6 Pillaiyar Kovil Street 1,2?

The current guideline value for Block 6 Pillaiyar Kovil Street 1,2 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 from Rs 156 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 394% over this period.

What is the registration office for this street?

The registration office for Block 6 Pillaiyar Kovil Street 1,2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What are the stamp duty and registration fees for a property in this area?

For a property of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

What is the land classification for Block 6 Pillaiyar Kovil Street 1,2?

The land classification for Block 6 Pillaiyar Kovil Street 1,2 is Residential Class III Type - I.