Guideline Value for Block 9 Arasilango Street

Block 9 Arasilango Street guideline value

The current guideline value of Block 9 Arasilango 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 the land classification is Residential Class III Type - I.

How the guideline value of Block 9 Arasilango Street has changed

The guideline value for Block 9 Arasilango Street has seen several revisions over the years. In 2002, the guideline value was Rs 208 per sq.ft. It increased to Rs 233 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 250 per sq.ft in 2007, which was a 7% increase. In 2012, the value further increased to Rs 500 per sq.ft, representing a significant 100% jump. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, reflecting a decline of 33%. The guideline value then saw a substantial 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, a 10% increase from the previous year.

There are no figures available for the revisions prior to 2002 or for any other years not mentioned in the register.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft. The guideline value for Block 9 Arasilango Street is below this median.

• Block 8 Vanniya Kula Chatriyar Street OR Rangarajan Street OR Karikalan Street: Rs 770 per sq.ft (2024)
• Block 8 Thottakkara Street: Rs 770 per sq.ft (2024)
• Block 9 Kumanan Street: Rs 770 per sq.ft (2024)
• Block 8 Sekkilar Street: Rs 770 per sq.ft (2024)
• Block 9 Muthukaruppan Sandhu: Rs 770 per sq.ft (2024)
• Block 8 Periya Mariamman Kovil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 Arasilango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 9 Arasilango Street?

The Sub Registrar Office that covers Block 9 Arasilango 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 D

The guideline value is a crucial factor in the registration process of properties in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 9 Arasilango Street?

The current guideline value of Block 9 Arasilango 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 several times, starting from Rs 208 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What is the registration office for Block 9 Arasilango Street?

The registration office for Block 9 Arasilango 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 of the property. For example, for a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.

What land classification is Block 9 Arasilango Street?

Block 9 Arasilango Street is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.