Guideline Value for Block 9 Kannian Street 1-3

Block 9 Kannian Street 1-3 guideline value

The current guideline value for Block 9 Kannian Street 1-3 is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Block 9 Kannian Street 1-3 has changed

The guideline value for Block 9 Kannian Street 1-3 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 372 per sq.ft, which increased to Rs 417 per sq.ft in 2003. The value then rose by 12% to reach Rs 500 per sq.ft in 2007. Following this, there was a significant increase of 100%, bringing the value to Rs 1,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The 2023 revision marked another increase to Rs 1,000 per sq.ft, and the most recent revision in 2024 saw it rise to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 196%. There are no figures available for the revisions in 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 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 for Block 9 Kannian Street 1-3 is below this median.

• Block 9 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)
• Block 9 Krishnampalayam Road 1,2,3: Rs 771 per sq.ft (2024)
• Block 8 Veeran Street: Rs 770 per sq.ft (2024)
• Block 8 Varadhappan Rd: Rs 770 per sq.ft (2024)
• Block 9 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 9 R K V Nagar: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 Kannian Street 1-3

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 information.

Which Sub Registrar Office covers Block 9 Kannian Street 1-3?

The Sub Registrar Office that covers Block 9 Kannian Street 1-3 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 details.

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

The guideline value plays a crucial role during property registration in Ward C. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the real estate market.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 9 Kannian Street 1-3?

The current guideline value for Block 9 Kannian Street 1-3 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 372 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 196% over this period.

What is the land classification for Block 9 Kannian Street 1-3?

Block 9 Kannian Street 1-3 is classified as Residential Class II Type - I.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Block 9 Kannian Street 1-3 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.