Guideline Value for Block 7 Vamalai Street

Block 7 Vamalai Street guideline value

The current guideline value for Block 7 Vamalai Street is Rs 771 per sq.ft. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - III.

How the guideline value of Block 7 Vamalai Street has changed

The guideline value for Block 7 Vamalai Street has undergone several revisions over the years. In 2002, the value was Rs 296 per sq.ft, which increased to Rs 332 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 500 per sq.ft in 2007, a +51% increase. Following this, the 2012 revision saw a decrease to Rs 600 per sq.ft, a -33% change. In 2017, the value increased significantly to Rs 402 per sq.ft, which was a +74% change from the previous year. The most recent revision in 2023 set the value at Rs 700 per sq.ft, and the upcoming 2024 revision will see it rise to Rs 771 per sq.ft, reflecting a +10% change.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by +160%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 7 Vamalai Street is below this median.

• Block 7 S.K.Chenniappa Street: Rs 1,375 per sq.ft (2024)
• Block 8 Chenniappa Street: Rs 1,925 per sq.ft (2024)
• Block 7 Perumal Street: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Street (or) Athiyanan Street: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Lane: Rs 825 per sq.ft (2024)
• Block 8 Kalaimagal School Road: Rs 1,375 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 7 Vamalai Street?

The Sub Registrar Office that covers Block 7 Vamalai 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 B

The guideline value is a crucial factor when registering property transactions in Ward B. It determines the minimum value at which the property can be registered, impacting the stamp duty and registration fees payable at the time of sale.

When buying or selling property, the guideline value ensures that the transaction is documented at a recognized value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Block 7 Vamalai Street is Rs 771 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 296 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of +160% over the years.

What are the stamp duty and registration fees for property in Block 7 Vamalai Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 69,390, based on the current guideline value.

Which office handles registrations for Block 7 Vamalai Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, which affects the stamp duty and registration fees. It ensures transparency and standardization in property transactions within the region.