Guideline Value for Block 8 Sekkilar Street

Block 8 Sekkilar Street guideline value

The current guideline value of Block 8 Sekkilar Street 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 Sekkilar Street has changed

The guideline value for Block 8 Sekkilar Street has seen significant changes over the years. In 2003, the guideline value was Rs 214 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following that, the value rose to Rs 500 per sq.ft in 2012, but then it decreased to Rs 335 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 700 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 260%. Notably, there is no figure available for this street in the 2002 revision.

Guideline values in Ward D

In Ward D, there are 200 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 guideline value in this area is Rs 798 per sq.ft, placing Block 8 Sekkilar Street's 2024 figure below that median.

• Block 8 Periya Mariamman Kovil Street: Rs 770 per sq.ft (2024)
• Block 8 Patchiappa Lane: Rs 770 per sq.ft (2024)
• Block 8 Thottakkara Street: Rs 770 per sq.ft (2024)
• Block 8 New Cauvery Road Lane: Rs 1,100 per sq.ft (2024)
• Block 8 Vanniya Kula Chatriyar Street OR Rangarajan Street OR Karikalan Street: Rs 770 per sq.ft (2024)
• Block 9 Arasilango Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Sekkilar Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, totaling 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 detailed calculations.

Which Sub Registrar Office covers Block 8 Sekkilar Street?

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

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions within Ward D. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is often used to assess the transaction's legitimacy. If the sale price exceeds the guideline value, the stamp duty will be calculated based on the higher amount, ensuring that all parties adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Block 8 Sekkilar Street?

The current guideline value for Block 8 Sekkilar Street 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 214 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 260% over this period.

What is the classification of Block 8 Sekkilar Street?

Block 8 Sekkilar Street is classified as Residential Class III Type - I.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.