Guideline Value for Block 9 East Okkiliyar Street

Block 9 East Okkiliyar Street guideline value

The current guideline value of Block 9 East Okkiliyar Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 9 East Okkiliyar Street has changed

Since the 2002 revision, the guideline value for Block 9 East Okkiliyar Street has seen significant changes. In 2002, the value was Rs 290 per sq.ft, which increased to Rs 328 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 350 per sq.ft in 2007, a 7% increase from the previous revision. In 2012, it further increased to Rs 500 per sq.ft, reflecting a 43% change. However, in 2017, the value dropped to Rs 335 per sq.ft, showing a decrease of 33%. The guideline value then increased substantially to Rs 700 per sq.ft in 2023, which was a 109% rise. The latest revision in 2024 has set the value at Rs 771 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 166%. The register has no figures for revisions other than those mentioned above.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft; the median value is Rs 825 per sq.ft. Therefore, the 2024 guideline value of Block 9 East Okkiliyar Street is below that median.

• Block 9 Cutcheri Street: Rs 1,100 per sq.ft (2024)
• Block 9 Court Street (Periyar Street) Part-2: Rs 1,100 per sq.ft (2024)
• Block 9 Moydhin Sagip Street: Rs 1,100 per sq.ft (2024)
• Block 8 South Okkiliyar Steet (Kopperundevi Street): Rs 771 per sq.ft (2024)
• Block 8 North Okkiliar Street, Arulmozhi theru: Rs 772 per sq.ft (2024)
• Block 8 Nethaji Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 East Okkiliyar Street

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the 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, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 9 East Okkiliyar Street?

The Sub Registrar Office that covers Block 9 East Okkiliyar 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 assistance.

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

The guideline value is an important factor during the registration of property transactions in Ward E. It serves as the basis for calculating the stamp duty and registration fees, ensuring that all transactions are conducted at a standardized value.

When buying or selling property, the guideline value helps in determining the official value of the property for legal and taxation purposes. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Block 9 East Okkiliyar Street?

The current guideline value of Block 9 East Okkiliyar 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 290 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 166% over this period.

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

For a property valued at 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.

Which Sub Registrar Office handles the registration for this street?

The Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone, handles the registration for Block 9 East Okkiliyar Street.

How is the guideline value determined for properties?

The guideline value is determined by the local registration department and is based on various factors, including land classification and the values of similar properties in the area.