Guideline Value for Block 8 K N K Road (Backside)

Block 8 K N K Road (Backside) guideline value

The current guideline value of Block 8 K N K Road (Backside) is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 8 K N K Road (Backside) has changed

The guideline value for Block 8 K N K Road (Backside) has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 435 per sq.ft. In 2007, it increased by 15% to Rs 500 per sq.ft. The 2012 revision saw a significant increase of 100%, bringing the value to Rs 1,000 per sq.ft. However, the 2017 revision marked a decrease of 33%, lowering it to Rs 670 per sq.ft. The value then rose again to Rs 1,000 per sq.ft in the 2023 revision, and the latest 2024 revision has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 153%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 8 K N K Road (Backside) is below this median.

• Block 8 K.N.Kuppusamy Pillai Road: Rs 1,100 per sq.ft (2024)
• Block 8 Kannaian Street Part 1: Rs 770 per sq.ft (2024)
• Block 8 Kannaian Road 1,2,3: Rs 770 per sq.ft (2024)
• Block 8 Gandhipuram Street 1-4: Rs 771 per sq.ft (2024)
• Block 8 Gandhipuram Huts: Rs 770 per sq.ft (2024)
• Block 7 Varathappan Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 K N K Road (Backside)

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 8 K N K Road (Backside)?

The Sub Registrar Office that covers Block 8 K N K Road (Backside) 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 here.

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

The guideline value is a crucial factor in the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the appropriate stamp duty and registration fees are collected based on this value.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 8 K N K Road (Backside)?

The current guideline value for Block 8 K N K Road (Backside) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 435 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 153% over the years.

What is the land classification for Block 8 K N K Road (Backside)?

Block 8 K N K Road (Backside) is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office for Block 8 K N K Road (Backside) 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.