Guideline Value for Block 7 Sekkizhar Street

Block 7 Sekkizhar Street guideline value

The current guideline value of Block 7 Sekkizhar Street is Rs 770 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 III Type - I.

How the guideline value of Block 7 Sekkizhar Street has changed

The guideline value for Block 7 Sekkizhar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 211 per sq.ft. This increased to Rs 237 per sq.ft in 2003, marking a 12% rise. The value saw a significant increase to Rs 350 per sq.ft in 2007, which represented a 48% change. By 2012, the value was revised to Rs 500 per sq.ft, reflecting a 43% increase. However, it decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 700 per sq.ft in 2023, which was a 109% increase. The most recent revision in 2024 set the value at Rs 770 per sq.ft, a 10% increase from the previous year.

The overall change from 2002 to 2024 shows a substantial increase of 265% in the guideline value for Block 7 Sekkizhar Street. There are no figures available for revisions in the years not listed in the register.

Guideline values in Ward D

In Ward D, there are 200 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 guideline value for these streets is Rs 798 per sq.ft, indicating that the 2024 figure for Block 7 Sekkizhar Street is below this median.

• 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)
• Block 7 Vanniyakula Chettiyar Street (or) Cauvery Road (or) Karikalan Street: Rs 770 per sq.ft (2024)
• Block 7 New Cauvery Road Lane: Rs 771 per sq.ft (2024)
• Block 8 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 7 Chinnamariamman Kovil Street: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400. Together, the total fees would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Sekkizhar Street?

The Sub Registrar Office that covers Block 7 Sekkizhar 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 further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the actual value of the transaction.

Frequently asked questions

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

The current guideline value of Block 7 Sekkizhar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 211 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of 265% over this period.

What is the registration fee for property in Block 7 Sekkizhar Street?

The registration fee for property in Block 7 Sekkizhar Street is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 15,400.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Block 7 Sekkizhar Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.