Guideline Value for Block 7 Chinnamariamman Kovil Street

Block 7 Chinnamariamman Kovil Street guideline value

The current guideline value of Block 7 Chinnamariamman Kovil Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 7 Chinnamariamman Kovil Street has changed

The guideline value for Block 7 Chinnamariamman Kovil Street has undergone several revisions over the years. In 2002, the value was Rs 194 per sq.ft, which increased to Rs 218 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 350 per sq.ft in 2007, which was a 61% increase. Following this, in 2012, the value adjusted to Rs 600 per sq.ft, reflecting a decrease of 33%. The value further increased to Rs 402 per sq.ft in 2017, and then rose sharply to Rs 700 per sq.ft in 2023, before reaching the current value of Rs 771 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 297%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft, which means that the value of Block 7 Chinnamariamman Kovil Street is below this median. The following are other streets in Ward D:

• Block 7 Cauvery Road: Rs 1,925 per sq.ft (2024)
• Block 7 New Cauvery Road Lane: Rs 771 per sq.ft (2024)
• Block 6 North chinna Mariyamman Kovil street: Rs 771 per sq.ft (2024)
• Block 7 Sekkizhar Street: Rs 770 per sq.ft (2024)
• Block 7 Vamalai Street: Rs 771 per sq.ft (2024)
• Block 7 Vanniya Kula Chatriyar Street OR Cauvery Street OR Karikalan Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Chinnamariamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total charges Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 7 Chinnamariamman Kovil Street?

The Sub Registrar Office that covers Block 7 Chinnamariamman 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 D

The guideline value is a crucial factor when registering property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Block 7 Chinnamariamman Kovil Street?

The current guideline value of Block 7 Chinnamariamman Kovil Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 194 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, showing an overall increase of 297% over the years.

What is the median guideline value for streets in Ward D?

The median guideline value for streets in Ward D is Rs 798 per sq.ft, indicating that Block 7 Chinnamariamman Kovil Street's value is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles property registrations for this street?

The Erode Joint I Sub Registrar Office handles property registrations for Block 7 Chinnamariamman Kovil Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.