Guideline Value for Block 6 Vinayagar Kovil Street

Block 6 Vinayagar Kovil Street guideline value

The current guideline value of Block 6 Vinayagar Kovil Street is Rs 772 per sq.ft, effective from 1 July 2024. This street is located in Ward C village, under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 6 Vinayagar Kovil Street has changed

The guideline value for Block 6 Vinayagar Kovil Street has seen several revisions over the years. In 2002, the value was Rs 149 per sq.ft, which increased to Rs 167 per sq.ft in 2003, marking a 12% rise. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, reflecting a 140% increase. In 2012, the value adjusted to Rs 600 per sq.ft, which was a decrease of 33%. The 2017 revision set the value at Rs 402 per sq.ft, showing a decline from the previous figure.

In 2023, the guideline value rose to Rs 700 per sq.ft, and the latest revision in 2024 has set it at Rs 772 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 418% for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with 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 the guideline value for Block 6 Vinayagar Kovil Street is below the median.

• Block 6 Veeraboyan Street: Rs 770 per sq.ft (2024)
• Block 7 Cauvery Road Main Road Part 3: Rs 1,925 per sq.ft (2024)
• Block 6 Ranga Street: Rs 770 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 Vinayagar Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 772 per sq.ft, the guideline value amounts to Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, while the registration fee at 2% would be Rs 15,440, bringing the total fees to Rs 69,480. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 6 Vinayagar Kovil Street?

The Sub Registrar Office that covers Block 6 Vinayagar Kovil 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 is a critical factor during the registration of property transactions in Ward C. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value is used to determine the minimum amount on which stamp duty is calculated. This means that the property cannot be sold for a price lower than the guideline value, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Block 6 Vinayagar Kovil Street?

The current guideline value of Block 6 Vinayagar Kovil Street is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 149 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, reflecting an overall increase of 418%.

What is the stamp duty for property in Block 6 Vinayagar Kovil Street?

The stamp duty for property in Block 6 Vinayagar Kovil Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Block 6 Vinayagar Kovil Street located?

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

What is the median guideline value in Ward C?

The median guideline value in Ward C is Rs 1,375 per sq.ft, which indicates that Block 6 Vinayagar Kovil Street's current value is below this median.