Guideline Value for Block 7 Azath Street

Block 7 Azath Street guideline value

The current guideline value of Block 7 Azath Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 7 Azath Street has changed

The guideline value for Block 7 Azath Street has seen several revisions over the years. In 2003, the guideline value was Rs 430 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, it rose to Rs 750 per sq.ft in 2012, but then decreased to Rs 502 per sq.ft in 2017. The value saw a significant increase to Rs 750 per sq.ft in 2023, and most recently, it has risen to Rs 825 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 92%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, which aligns with the current guideline value of Block 7 Azath Street.

• Block 7 Angamuthu Pillai Street: Rs 771 per sq.ft (2024)
• Block 6 Vannara Street (Porkai Pandiyan Street): Rs 771 per sq.ft (2024)
• Block 6 Valluvar Street (Naladiyar Street): Rs 771 per sq.ft (2024)
• Block 7 Court Street (or) Periyar Street: Rs 1,100 per sq.ft (2024)
• Block 6 South Valluvar Street (Sambandhar Street): Rs 825 per sq.ft (2024)
• Block 7 Cutcheri Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Azath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, leading to a total of Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Azath Street?

The Sub Registrar Office that covers Block 7 Azath Street 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 information.

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

The guideline value is a crucial factor when registering property in Ward E. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is bought or sold, the guideline value helps in determining the legal fees involved in the transaction. This ensures that the registration process is transparent and based on a standardized valuation system set by the authorities.

Frequently asked questions

What is the current guideline value of Block 7 Azath Street?

The current guideline value of Block 7 Azath Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 430 per sq.ft in 2003 to Rs 825 per sq.ft in 2024, marking an overall increase of 92% over this period.

What is the registration office for Block 7 Azath Street?

The registration office for Block 7 Azath Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in Block 7 Azath Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total stamp duty would be Rs 57,750.

What are the other streets in Ward E with guideline values?

Other streets in Ward E include Block 7 Angamuthu Pillai Street, Block 6 Vannara Street (Porkai Pandiyan Street), Block 6 Valluvar Street (Naladiyar Street), Block 7 Court Street (or) Periyar Street, Block 6 South Valluvar Street (Sambandhar Street), and Block 7 Cutcheri Street, each with their respective guideline values.