Guideline Value for Block 7 Sagansaibu Street

Block 7 Sagansaibu Street guideline value

The current guideline value of Block 7 Sagansaibu Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 7 Sagansaibu Street has changed

Over the years, the guideline value for Block 7 Sagansaibu Street has seen several revisions. The register shows that in 2002, the value was Rs 204 per sq.ft, which increased to Rs 229 per sq.ft in 2003, marking a 12% rise. Following this, the value rose by 31% to Rs 300 per sq.ft in 2007, and then it further increased by 67% to Rs 500 per sq.ft in 2012. However, there was a decrease of 33% in 2017, bringing the value down to Rs 335 per sq.ft. The value then saw a significant increase of 109% to Rs 700 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 771 per sq.ft in 2024.

There are no figures available for any revisions prior to 2002 or for the years that do not have a specified figure in the register.

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, with a median of Rs 1,375 per sq.ft. The guideline value for Block 7 Sagansaibu Street is below this median.

• Block 7 Rajaji Street (Puram): Rs 770 per sq.ft (2024)
• Block 7 Varathappan Street: Rs 770 per sq.ft (2024)
• Block 7 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)
• Block 7 Ganapathipuram Part 2: Rs 825 per sq.ft (2024)
• Block 8 Gandhipuram Huts: Rs 770 per sq.ft (2024)
• Block 8 Gandhipuram Street 1-4: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the 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 Rs 69,390. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 7 Sagansaibu Street?

The Sub Registrar Office that covers Block 7 Sagansaibu 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 C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Block 7 Sagansaibu 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 204 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What is the land classification for Block 7 Sagansaibu Street?

Block 7 Sagansaibu Street falls under the Residential Class III Type - I land classification.

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

The Sub Registrar Office for Block 7 Sagansaibu 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 Ward C?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.