Guideline Value for Block 8 Patchiappa Lane

Block 8 Patchiappa Lane guideline value

The current guideline value of Block 8 Patchiappa Lane is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 8 Patchiappa Lane has changed

The guideline value for Block 8 Patchiappa Lane has undergone several revisions over the years. In 2002, the value was Rs 217 per sq.ft, which increased to Rs 244 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 350 per sq.ft in 2007, representing a 43% increase. By 2012, the value rose further to Rs 500 per sq.ft, which was a 43% increase from the previous revision. However, in 2017, it decreased to Rs 335 per sq.ft, reflecting a decline of 33%.

Following the 2017 revision, the guideline value saw a notable increase to Rs 700 per sq.ft in 2023, which was a 109% rise. The most recent revision in 2024 set the value at Rs 770 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO, with a 2024 guideline value range from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 798 per sq.ft, indicating that Block 8 Patchiappa Lane's 2024 figure is below that median.

• Block 8 Periya Mariamman Kovil Street: Rs 770 per sq.ft (2024)
• Block 8 New Cauvery Road Lane: Rs 1,100 per sq.ft (2024)
• Block 8 Sekkilar Street: Rs 770 per sq.ft (2024)
• Block 8 Karikalan Theru: Rs 770 per sq.ft (2024)
• Block 8 Thottakkara Street: Rs 770 per sq.ft (2024)
• Block 8 Vanniya Kula Chatriyar Street OR Rangarajan Street OR Karikalan Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Patchiappa Lane

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the 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 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 more details.

Which Sub Registrar Office covers Block 8 Patchiappa Lane?

The Sub Registrar Office that covers Block 8 Patchiappa Lane 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 D

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are levied. This ensures transparency and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Block 8 Patchiappa Lane?

The current guideline value for Block 8 Patchiappa Lane 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 217 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 255% over the years.

What is the stamp duty rate for properties in Block 8 Patchiappa Lane?

The stamp duty rate for properties in Block 8 Patchiappa Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 8 Patchiappa Lane located?

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

What is the land classification for Block 8 Patchiappa Lane?

Block 8 Patchiappa Lane is classified as Residential Class III Type - I, indicating its intended use for residential purposes.