Guideline Value for Block 8 Subbaian Street

Block 8 Subbaian Street guideline value

The current guideline value of Block 8 Subbaian Street is Rs 772 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class II Type - III.

How the guideline value of Block 8 Subbaian Street has changed

The guideline value for Block 8 Subbaian Street has seen several revisions over the years. In 2002, the value was Rs 253 per sq.ft, which increased to Rs 284 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 300 per sq.ft in 2007, showing an increase of +6%. Following this, the value doubled to Rs 600 per sq.ft in 2012, reflecting a +100% change. However, it decreased to Rs 402 per sq.ft in 2017, a drop of -33%. The next revision in 2023 set the value at Rs 700 per sq.ft, which was a significant increase of +74%. Finally, the current value of Rs 772 per sq.ft in 2024 represents a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +205%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 8 Subbaian Street's current value below this median.

• Block 8 ThiruNagarColony: Rs 1,925 per sq.ft (2024)
• Block 8 Shagan Street: Rs 771 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 9 Kannian Street 1-3: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value would be Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, and the registration fee at 2% would be Rs 15,440, totaling Rs 69,480. 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 Subbaian Street?

The Sub Registrar Office that covers Block 8 Subbaian Street 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 applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property transaction occurs, the guideline value helps to standardize the fees charged during registration, providing transparency and consistency in the process. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of Block 8 Subbaian Street is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 253 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, reflecting an overall increase of +205% over this period.

What is the stamp duty rate for properties in Block 8 Subbaian Street?

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

Where is the Sub Registrar Office for Block 8 Subbaian Street located?

The Sub Registrar Office for Block 8 Subbaian Street 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 Subbaian Street?

Block 8 Subbaian Street is classified as Residential Class II Type - III, which affects its guideline value and potential use for residential purposes.