Guideline Value for Block 6 Veeraboyan Street

Block 6 Veeraboyan Street guideline value

The current guideline value for Block 6 Veeraboyan Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C village and falls under the Erode Joint I SRO, classified as Residential Class III Type - II.

How the guideline value of Block 6 Veeraboyan Street has changed

The guideline value for Block 6 Veeraboyan Street has undergone several revisions over the years. Starting from Rs 131 per sq.ft in 2002, it increased to Rs 147 per sq.ft in 2003, marking a 12% rise. The value then saw a further increase to Rs 200 per sq.ft in 2007, which was a 36% change. In 2012, it rose to Rs 500 per sq.ft, reflecting a significant 150% increase. However, the value decreased to Rs 335 per sq.ft in 2017, showing a decline of 33%. The most recent revisions saw the value increase to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 488%. The register has no figure for this street for the years not listed, ensuring that all changes are documented accurately.

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. The median value for these streets is Rs 1,375 per sq.ft, indicating that Block 6 Veeraboyan Street's 2024 figure is below this median.

• Block 6 Vinayagar Kovil Street: Rs 772 per sq.ft (2024)
• Block 6 Ranga Street: Rs 770 per sq.ft (2024)
• Block 7 Cauvery Road Main Road Part 3: Rs 1,925 per sq.ft (2024)
• Block 6 PoonKundranar St: Rs 825 per sq.ft (2024)
• Block 6 Pillaiyar Kovil Street 1,2: Rs 771 per sq.ft (2024)
• Block 7 Ganapathipuram Part 2: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Veeraboyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the 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 Veeraboyan Street?

The Sub Registrar Office that covers Block 6 Veeraboyan 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Ward C. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is officially recorded and the appropriate taxes are collected by the government.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the costs involved. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Block 6 Veeraboyan Street?

The current guideline value of Block 6 Veeraboyan Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 488% over the years.

What is the land classification of Block 6 Veeraboyan Street?

Block 6 Veeraboyan Street is classified as Residential Class III Type - II.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at the rate of 7%.