Guideline Value for Block 6 Poondhurai Road

Block 6 Poondhurai Road guideline value

The current guideline value of Block 6 Poondhurai Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Block 6 Poondhurai Road has changed

The guideline value for Block 6 Poondhurai Road has seen several revisions over the years. In 2002, the guideline value was Rs 629 per sq.ft, which increased to Rs 711 per sq.ft in 2003. The following revision in 2007 set the value at Rs 900 per sq.ft, and it further rose to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The guideline value then increased significantly to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,650 per sq.ft in 2024.

Looking at the changes, from 2002 to 2024, the overall increase is 162%. The most notable increase occurred between 2017 and 2023, where the value rose by 49%. The change from 2023 to 2024 is a 10% increase.

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, placing Block 6 Poondhurai Road above this median.

• Block 6 New Street: Rs 771 per sq.ft (2024)
• Block 6 Sivasanmugam Pillai Street: Rs 2,750 per sq.ft (2024)
• Block 6 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 6 South Valluvar Street (Sambandhar Street): Rs 825 per sq.ft (2024)
• Block 6 Nadu Street: Rs 771 per sq.ft (2024)
• Block 6 Kuppakatthan Lane: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Poondhurai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 6 Poondhurai Road?

The Sub Registrar Office that covers Block 6 Poondhurai Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ward E

The guideline value is a crucial factor during property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. This value is set by the Registration Department and is updated periodically to reflect changes in the market.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is essential to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 6 Poondhurai Road?

The current guideline value of Block 6 Poondhurai Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 629 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 162%.

What is the registration office for Block 6 Poondhurai Road?

The registration office for Block 6 Poondhurai Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.

What other streets in Ward E have guideline values?

Other streets in Ward E have varying guideline values, with rates ranging from Rs 771 to Rs 2,750 per sq.ft. For instance, Block 6 Nethaji Street has a guideline value of Rs 1,925 per sq.ft.