Guideline Value for Block 9 Periyana Street

Block 9 Periyana Street guideline value

The current guideline value of Block 9 Periyana Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 9 Periyana Street has changed

The guideline value for Block 9 Periyana Street has seen several revisions over the years. In 2002, the guideline value was Rs 447 per sq.ft. This increased to Rs 501 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which was a 50% increase from the previous revision. By 2012, the value was Rs 1,000 per sq.ft, reflecting a 33% decrease from 2007. The guideline value remained at Rs 1,000 per sq.ft in 2012 and saw a significant increase to Rs 670 per sq.ft in 2017, which was a 49% increase. The most recent revision in 2023 set the value at Rs 1,000 per sq.ft, and it has now increased to Rs 1,100 per sq.ft in 2024, a 10% rise.

Guideline values in Ward B

In Ward B, there are 170 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 1,100 per sq.ft, which is the same as the current value for Block 9 Periyana Street. Below are the guideline values for other streets in Ward B:

• Block 9 Power House Colony: Rs 1,100 per sq.ft (2024)
• Block 9 Pavadai Street: Rs 825 per sq.ft (2024)
• Block 9 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 9 Muthusamy Sandu: Rs 1,100 per sq.ft (2024)
• Block 9 Kalaimagal School Road: Rs 1,100 per sq.ft (2024)
• Block 9 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)

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

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, making the total cost for these fees 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 details.

Which Sub Registrar Office covers Block 9 Periyana Street?

The Sub Registrar Office that covers Block 9 Periyana 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 B

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

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

Frequently asked questions

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

The current guideline value of Block 9 Periyana Street 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 447 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 146% over the years.

What is the land classification for Block 9 Periyana Street?

Block 9 Periyana Street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Block 9 Periyana Street?

The Sub Registrar Office for Block 9 Periyana Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 99,000.