Guideline Value for Block 8 Kalaimagal School Road

Block 8 Kalaimagal School Road guideline value

The current guideline value for Block 8 Kalaimagal School Road is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Block 8 Kalaimagal School Road has changed

The guideline value for Block 8 Kalaimagal School Road has seen several revisions over the years. In 2002, the guideline value was Rs 447 per sq.ft. This increased to Rs 501 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which was a 50% increase from the previous year. In 2012, the value was Rs 1,250 per sq.ft, showing a significant 67% increase from 2007. However, it then decreased to Rs 837 per sq.ft in 2017, reflecting a 33% drop. The value then rose to Rs 1,250 per sq.ft in 2023, before reaching the current value of Rs 1,375 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 208%. There are no figures available for the revisions in years not mentioned in the register for this street.

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. The median value for these streets is Rs 1,100 per sq.ft, placing Block 8 Kalaimagal School Road's 2024 figure above that median.

• Block 8 Chenniappa Street: Rs 1,925 per sq.ft (2024)
• Block 8 Mosuvana Street: Rs 1,100 per sq.ft (2024)
• Block 7 Vamalai Street: Rs 771 per sq.ft (2024)
• Block 8 Periyana Street: Rs 1,100 per sq.ft (2024)
• Block 8 Power House road: Rs 1,100 per sq.ft (2024)
• Block 7 S.K.Chenniappa Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Kalaimagal School Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 8 Kalaimagal School Road?

The Sub Registrar Office that covers Block 8 Kalaimagal School Road 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The higher of the guideline value or the sale price is considered for calculating these fees.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements and helps in accurately assessing the costs involved in property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 8 Kalaimagal School Road?

The current guideline value for Block 8 Kalaimagal School Road is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 447 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 208% over the years.

What is the land classification for Block 8 Kalaimagal School Road?

Block 8 Kalaimagal School Road is classified under Residential Class I Type - III.

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

The Sub Registrar Office for Block 8 Kalaimagal School Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 13,75,000, the stamp duty at 7% would be Rs 96,250.