Guideline Value for Block 8 Veeran Street

Block 8 Veeran Street guideline value

The current guideline value of Block 8 Veeran Street is Rs 770 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 - II.

How the guideline value of Block 8 Veeran Street has changed

The guideline value for Block 8 Veeran Street has seen several revisions over the years. In 2002, the value was Rs 115 per sq.ft, which increased to Rs 129 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft. The next revision in 2023 saw a substantial increase to Rs 700 per sq.ft, followed by the current value of Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 570%. Notably, there are no figures available for the years not listed in the register for this street.

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 as of 2024. The median value in this area is Rs 1,375 per sq.ft, placing Block 8 Veeran Street's current guideline value below the median.

• Block 8 Varadhappan Rd: Rs 770 per sq.ft (2024)
• Block 8 ThiruNagarColony: Rs 1,925 per sq.ft (2024)
• Block 8 Subbaian Street: Rs 772 per sq.ft (2024)
• Block 8 Shagan Street: Rs 771 per sq.ft (2024)
• Block 9 Kannian Street 1-3: Rs 1,100 per sq.ft (2024)
• Block 9 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)

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

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, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that 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 Veeran Street?

The Sub Registrar Office covering Block 8 Veeran 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward C. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two amounts will be used to calculate the stamp duty and registration fees, ensuring that all parties are aware of the financial implications of the transaction.

Frequently asked questions

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

The current guideline value of Block 8 Veeran 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 increased from Rs 115 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, marking an overall increase of 570% over this period.

What is the median guideline value in Ward C?

The median guideline value in Ward C is Rs 1,375 per sq.ft, with Block 8 Veeran Street's current value being below this median.

What are the stamp duty and registration fees for properties in Block 8 Veeran Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,300, based on the current guideline value of Rs 7,70,000.

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

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