Guideline Value for Block 8 Jothi Street

Block 8 Jothi Street guideline value

The current guideline value of Block 8 Jothi Street is Rs 771 per sq.ft. This street is located in Ward E 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 8 Jothi Street has changed

The guideline value for Block 8 Jothi Street has seen several revisions over the years. In 2002, the guideline value was Rs 234 per sq.ft, which increased to Rs 265 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007, a change of +32%. In 2012, the value increased to Rs 500 per sq.ft, reflecting a +43% change. However, in 2017, the guideline value dropped to Rs 335 per sq.ft, a decrease of -33%. The value saw a significant rise to Rs 700 per sq.ft in 2023, which was a +109% increase. The most recent revision in 2024 set the value at Rs 771 per sq.ft, representing a +10% change from the previous year.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +229%.

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. The median guideline value in this area is Rs 825 per sq.ft, which means that Block 8 Jothi Street's 2024 figure is below that median.

• Block 8 East Okkiliyar Street (Kambar Street): Rs 771 per sq.ft (2024)
• 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 Mandapam Street: Rs 1,375 per sq.ft (2024)
• Block 8 Nachinarkiniyar Street: Rs 771 per sq.ft (2024)
• Block 8 Nanjaiya Pillai Lane: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Jothi 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 amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 8 Jothi Street?

The Sub Registrar Office that covers Block 8 Jothi 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 E

The guideline value plays a crucial role during the registration of property transactions in Ward E. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs associated with the transaction. Buyers should ensure they are informed about the current guideline values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Block 8 Jothi Street?

The current guideline value of Block 8 Jothi 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 several times, with the most significant increase occurring from 2017 to 2023, where it rose from Rs 335 per sq.ft to Rs 700 per sq.ft, a +109% change.

What is the land classification for Block 8 Jothi Street?

Block 8 Jothi Street is classified as Residential Class III Type - I, which indicates its use for residential purposes.

Where can I find the registration office for Block 8 Jothi Street?

The registration office for Block 8 Jothi 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 property in Block 8 Jothi Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 7,71,000, leading to a stamp duty of Rs 53,970.