Guideline Value for Block 7 Vamalai Street

Block 7 Vamalai Street guideline value

The current guideline value of Block 7 Vamalai 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, 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 guideline value was Rs 243 per sq.ft, which increased to Rs 272 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 350 per sq.ft in 2007, reflecting a 29% change. By 2012, the value rose to Rs 600 per sq.ft, representing a 71% increase. However, the value dropped to Rs 402 per sq.ft in 2017, indicating a decrease of 33%. The 2023 revision set the value at Rs 700 per sq.ft, which was a 74% increase from the previous figure. The current 2024 revision has further raised the value to Rs 771 per sq.ft, a 10% increase from 2023.

There are no figures available for revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 217%.

Guideline values in Ward D

In Ward D, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as of 2024, with a median value of Rs 798 per sq.ft. The guideline value for Block 7 Vamalai Street is below this median.

• 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 Sekkizhar Street: Rs 770 per sq.ft (2024)
• Block 8 Cauvery Road Main Road: Rs 1,925 per sq.ft (2024)
• Block 7 New Cauvery Road Lane: Rs 771 per sq.ft (2024)
• Block 8 Karikalan Theru: Rs 770 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 of Rs 771 per sq.ft, the guideline value amounts to 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, 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 D

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees. It ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth in the area.

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, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 243 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting a total increase of 217% over this period.

What is the stamp duty rate for properties in Block 7 Vamalai Street?

The stamp duty rate for properties in Block 7 Vamalai Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 7 Vamalai Street located?

The Sub Registrar Office for 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.

What is the land classification for Block 7 Vamalai Street?

Block 7 Vamalai Street is classified as Residential Class II Type - III, which is important for understanding its intended use and regulatory framework.