Guideline Value for Block 8 Shagan Street

Block 8 Shagan Street guideline value

The current guideline value of Block 8 Shagan Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 8 Shagan Street has changed

The guideline value for Block 8 Shagan Street has undergone several revisions since 2002. The earliest recorded value in 2002 was Rs 234 per sq.ft, which increased to Rs 263 per sq.ft in 2003, marking a change of +12%. In 2007, the value rose again to Rs 300 per sq.ft, reflecting a +14% increase. The 2012 revision saw a decrease to Rs 500 per sq.ft, resulting in a -33% change. The value then climbed to Rs 335 per sq.ft in 2017, which was a +109% increase. The most recent revisions were in 2023 and 2024, where the value was Rs 700 per sq.ft in 2023 and increased to Rs 771 per sq.ft in 2024, showing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +229%. There are no figures available for revisions in other years for this street.

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 of Block 8 Shagan Street is below this median.

• Block 8 Subbaian Street: Rs 772 per sq.ft (2024)
• Block 8 ThiruNagarColony: Rs 1,925 per sq.ft (2024)
• Block 8 Varadhappan Rd: Rs 770 per sq.ft (2024)
• Block 8 Veeran Street: Rs 770 per sq.ft (2024)
• Block 8 K.N.Kuppusamy Pillai Road: Rs 1,100 per sq.ft (2024)
• Block 8 K N K Road (Backside): Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, resulting in a total of Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 8 Shagan Street?

The Sub Registrar Office that covers Block 8 Shagan Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is sold, the guideline value is used to calculate the financial obligations for both the buyer and seller. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Block 8 Shagan Street?

The current guideline value of Block 8 Shagan Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 234 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, representing an overall increase of +229% over the years.

What is the registration office for Block 8 Shagan Street?

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

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

For a property valued at the current guideline value of Rs 7,71,000, the stamp duty would be Rs 53,970, and the registration fee would be Rs 15,420, totaling Rs 69,390.

How is the guideline value used in property transactions?

The guideline value is utilized to determine the stamp duty and registration fees during property transactions. It ensures that the financial obligations are calculated accurately for both buyers and sellers.