Guideline Value for Block 8 Kannaian Street Part 1

Block 8 Kannaian Street Part 1 guideline value

The current guideline value for Block 8 Kannaian Street Part 1 is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C under the Erode Joint I SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Block 8 Kannaian Street Part 1 has changed

The guideline value for Block 8 Kannaian Street Part 1 has undergone several revisions over the years. The earliest recorded figure is from 2012, when the guideline value was Rs 500 per sq.ft. This increased to Rs 335 per sq.ft in 2017, which was a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 700 per sq.ft, reflecting an increase of 109%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 54%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, indicating that Block 8 Kannaian Street Part 1's 2024 figure is below this median.

• Block 8 Kannaian Road 1,2,3: Rs 770 per sq.ft (2024)
• Block 8 K N K Road (Backside): Rs 1,100 per sq.ft (2024)
• Block 8 K.N.Kuppusamy Pillai Road: Rs 1,100 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 Kannaian Street Part 1

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 fees to Rs 69,300. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Block 8 Kannaian Street Part 1?

The Sub Registrar Office that covers Block 8 Kannaian Street Part 1 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 for property transactions in Ward C. It serves as a benchmark for determining the value of the property being bought or sold, ensuring that the appropriate fees are calculated based on this value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 8 Kannaian Street Part 1?

The current guideline value of Block 8 Kannaian Street Part 1 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 770 per sq.ft in 2024. This includes a significant increase of 109% from 2017 to 2023.

What is the median guideline value in Ward C?

The median guideline value for streets in Ward C is Rs 1,375 per sq.ft. Block 8 Kannaian Street Part 1's value is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

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

The Erode Joint I Sub Registrar Office covers Block 8 Kannaian Street Part 1, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.