Guideline Value for Block 6 Sivasanmugam Pillai Street

Block 6 Sivasanmugam Pillai Street guideline value

The current guideline value for Block 6 Sivasanmugam Pillai Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Block 6 Sivasanmugam Pillai Street has changed

The guideline value for Block 6 Sivasanmugam Pillai Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 467 per sq.ft. In 2003, it increased to Rs 528 per sq.ft, marking a 13% rise. The 2007 revision saw a significant jump to Rs 750 per sq.ft, which is a 42% increase from the previous year. The 2012 revision brought the value back up to Rs 2,500 per sq.ft, reflecting a 233% increase from 2007. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33% from the 2012 figure.

In the subsequent revisions, the value rose again, reaching Rs 2,500 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year. The overall change from 2002 to 2024 is an increase of 489%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 825 per sq.ft, placing Block 6 Sivasanmugam Pillai Street above this median.

• Block 6 South Valluvar Street (Sambandhar Street): Rs 825 per sq.ft (2024)
• Block 6 Poondhurai Road: Rs 1,650 per sq.ft (2024)
• Block 6 Valluvar Street (Naladiyar Street): Rs 771 per sq.ft (2024)
• Block 6 Vannara Street (Porkai Pandiyan Street): Rs 771 per sq.ft (2024)
• Block 6 New Street: Rs 771 per sq.ft (2024)
• Block 6 Nethaji Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Sivasanmugam Pillai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 6 Sivasanmugam Pillai Street?

The Sub Registrar Office that covers Block 6 Sivasanmugam Pillai 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 E

The guideline value is a critical factor during property registration in Ward E. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 6 Sivasanmugam Pillai Street?

The current guideline value for Block 6 Sivasanmugam Pillai Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 467 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 489% across the revisions.

What is the classification of Block 6 Sivasanmugam Pillai Street?

Block 6 Sivasanmugam Pillai Street is classified as Commercial Class I Type - III under the Erode Joint I SRO.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 6 Sivasanmugam Pillai Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Block 6 Sivasanmugam Pillai Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.