Guideline Value for Block 8 East Okkiliyar Street (Kambar Street)

Block 8 East Okkiliyar Street (Kambar Street) guideline value

The current guideline value for Block 8 East Okkiliyar Street (Kambar Street) is Rs 771 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 III Type - I.

How the guideline value of Block 8 East Okkiliyar Street (Kambar Street) has changed

The guideline value for Block 8 East Okkiliyar Street (Kambar Street) has seen several revisions over the years. In 2002, the guideline value was Rs 290 per sq.ft, which increased to Rs 328 per sq.ft in 2003, marking a 13% rise. The value continued to rise to Rs 350 per sq.ft in 2007, a 7% increase. By 2012, the value reached Rs 500 per sq.ft, reflecting a 43% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 335 per sq.ft. The guideline value then rose significantly to Rs 700 per sq.ft in 2023, representing a 109% increase. The most recent revision in 2024 brought the value to Rs 771 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 166%. There are no figures available for revisions in years other than those listed.

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, with a median value of Rs 825 per sq.ft. The guideline value for Block 8 East Okkiliyar Street (Kambar Street) is below this median.

• Block 8 Cutcheri Street: Rs 1,650 per sq.ft (2024)
• Block 8 Court Street (Periyar Street) Part-1: Rs 1,100 per sq.ft (2024)
• Block 8 Jothi Street: Rs 771 per sq.ft (2024)
• Block 8 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 7 Uppukinar Street: Rs 771 per sq.ft (2024)
• Block 8 Nachinarkiniyar Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 East Okkiliyar Street (Kambar Street)

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

Which Sub Registrar Office covers Block 8 East Okkiliyar Street (Kambar Street)?

The Sub Registrar Office that covers Block 8 East Okkiliyar Street (Kambar 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 E

The guideline value plays a crucial role during the registration of property transactions in Ward E. It is used to determine the stamp duty and registration fees that need to be paid when transferring property ownership. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a reference point for calculating the applicable fees. It is essential to understand that the fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 8 East Okkiliyar Street (Kambar Street)?

The current guideline value for Block 8 East Okkiliyar Street (Kambar Street) is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for this street?

The guideline value has changed from Rs 290 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 166% over the years.

What is the land classification for Block 8 East Okkiliyar Street (Kambar Street)?

This street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 at 7%.