Guideline Value for Block 10 50 Feet Road

Block 10 50 Feet Road guideline value

The current guideline value for Block 10 50 Feet Road, Ward B village, Erode Joint I SRO, Coimbatore zone, Tamil Nadu is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Block 10 50 Feet Road has changed

The guideline value for Block 10 50 Feet Road has undergone several revisions over the years. In 2002, the value was Rs 361 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a change of +12%. The value continued to rise to Rs 500 per sq.ft in 2007, reflecting a +23% increase. In 2012, the value was Rs 1,000 per sq.ft, showing a significant +100% increase from the previous revision. However, in 2017, the value decreased to Rs 670 per sq.ft, a decline of -33%. The guideline value then rose to Rs 1,000 per sq.ft in 2023, and finally, it has reached Rs 1,100 per sq.ft in 2024, which represents a +10% increase from the previous year.

The overall change from 2002 to 2024 shows a substantial increase of +205%. It is important to note that there are no figures available for the revisions in the years not listed for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 1,100 per sq.ft, which is equal to the current figure for Block 10 50 Feet Road.

• Block 10 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)
• Block 10 Muthukaruppa Street: Rs 1,650 per sq.ft (2024)
• Block 10 N.G.G.O.Colony Road 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 10 O.A.Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 10 Poosari Chennimalai Street 1 to 5: Rs 1,100 per sq.ft (2024)
• Block 10 Varatharajan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 50 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to 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 charges Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 10 50 Feet Road?

The Sub Registrar Office covering Block 10 50 Feet Road 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 B

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buyers and sellers agree on a sale price, the guideline value is used to calculate the stamp duty and registration fees applicable during the registration process.

It is essential for buyers to be aware of the guideline value, as it can impact the overall cost of purchasing property in Ward B. Understanding the guideline value helps ensure that all legal requirements are met during the transaction.

Frequently asked questions

What is the current guideline value for Block 10 50 Feet Road?

The current guideline value for Block 10 50 Feet Road 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 361 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +205% over this period.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total charges would amount to Rs 99,000.

Which office handles property registration for this area?

The Erode Joint I Sub Registrar Office handles property registration for Block 10 50 Feet Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

Are there other streets with similar guideline values in Ward B?

Yes, there are several other streets in Ward B with similar guideline values. For instance, Block 10 N.G.G.O.Colony Road 1 to 8, Block 10 Poosari Chennimalai Street 1 to 5, and Block 10 Varatharajan Street all have a guideline value of Rs 1,100 per sq.ft in 2024.