Guideline Value for Block 7 Pzhallakkara Street (Seedhakadhi Street)

Block 7 Pzhallakkara Street (Seedhakadhi Street) guideline value

The current guideline value of Block 7 Pzhallakkara Street (Seedhakadhi Street) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 7 Pzhallakkara Street (Seedhakadhi Street) has changed

The guideline value for Block 7 Pzhallakkara Street (Seedhakadhi Street) has seen several revisions over the years. In 2002, the guideline value was Rs 681 per sq.ft. This increased to Rs 770 per sq.ft in 2003, reflecting a change of +13%. The value continued to rise, reaching Rs 900 per sq.ft in 2007, which was an increase of +17%. Following this, the value was Rs 1,000 per sq.ft in 2012, marking an increase of +11%. However, it experienced a decline to Rs 670 per sq.ft in 2017, a drop of -33%. The value rebounded to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft, a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +62%. Notably, the register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry 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, placing Block 7 Pzhallakkara Street (Seedhakadhi Street) above this median.

• Block 7 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 7 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 7 Uppukinar Street: Rs 771 per sq.ft (2024)
• Block 7 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 7 Cutcheri Street: Rs 1,650 per sq.ft (2024)
• Block 7 Court Street (or) Periyar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Pzhallakkara Street (Seedhakadhi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Pzhallakkara Street (Seedhakadhi Street)?

The Sub Registrar Office that covers Block 7 Pzhallakkara Street (Seedhakadhi 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 E

The guideline value is a crucial factor when buying or selling property in Ward E, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is necessary for the legal transfer of property ownership. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Block 7 Pzhallakkara Street (Seedhakadhi Street)?

The current guideline value of Block 7 Pzhallakkara Street (Seedhakadhi Street) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 681 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +62% over the years.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 for these fees.

Which Sub Registrar Office handles registrations for this street?

The Erode Joint I Sub Registrar Office handles registrations for Block 7 Pzhallakkara Street (Seedhakadhi Street), located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the land classification for Block 7 Pzhallakkara Street (Seedhakadhi Street)?

The land classification for Block 7 Pzhallakkara Street (Seedhakadhi Street) is Residential Class II Type - I, indicating its suitability for residential development.