Guideline Value for Block 8 Kannaian Road 1,2,3

Block 8 Kannaian Road 1,2,3 guideline value

The current guideline value for Block 8 Kannaian Road 1,2,3 is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in the village of Erode under the Erode Joint I SRO and falls under the Residential Class III Type - II land classification.

How the guideline value of Block 8 Kannaian Road 1,2,3 has changed

The guideline value for Block 8 Kannaian Road has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 700 per sq.ft in 2023, and it further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 54%. The register has no figures for this street in the years 2002, 2003, and 2007.

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 Kannaian Road 1,2,3 is below that median.

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

Stamp duty and registration fee for property in Block 8 Kannaian Road 1,2,3

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 8 Kannaian Road 1,2,3?

The Sub Registrar Office that covers Block 8 Kannaian Road 1,2,3 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 C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the correct amount of stamp duty and registration fees that need to be paid. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 8 Kannaian Road 1,2,3?

The current guideline value for Block 8 Kannaian Road 1,2,3 is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Block 8 Kannaian Road 1,2,3?

The land classification for Block 8 Kannaian Road 1,2,3 is Residential Class III Type - II.

Which office handles the registration for this property?

The registration for Block 8 Kannaian Road 1,2,3 is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 69,300.