Guideline Value for Block 10 N.G.G.O.Colony Road 1 to 8

Block 10 N.G.G.O.Colony Road 1 to 8 guideline value

The current guideline value for Block 10 N.G.G.O.Colony Road 1 to 8 is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in the village of Ward B and falls under the Erode Joint I SRO. The land classification is Residential Class II Type - I.

How the guideline value of Block 10 N.G.G.O.Colony Road 1 to 8 has changed

The guideline value for this street has seen several revisions over the years. In 2002, the guideline value was Rs 224 per sq.ft, which increased to Rs 251 per sq.ft in 2003, marking a change of +12%. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, a change of +59%. In 2012, the value remained at Rs 1,000 per sq.ft, showing a decrease of -33% from the previous revision. The 2017 revision increased the value to Rs 670 per sq.ft, reflecting a change of +49%. The guideline value was Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +391%. There are no figures available for any revisions other than those listed for this street.

Guideline values in Ward B

In Ward B, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as per the 2024 revision, with the median value being Rs 1,100 per sq.ft. The guideline value for Block 10 N.G.G.O.Colony Road 1 to 8 is equal to this median.

• Block 10 Muthukaruppa Street: Rs 1,650 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 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)
• Block 10 Varatharajan Street: Rs 1,100 per sq.ft (2024)
• Block 10 50 Feet Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 N.G.G.O.Colony Road 1 to 8

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be 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 Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 10 N.G.G.O.Colony Road 1 to 8?

The Sub Registrar Office that covers Block 10 N.G.G.O.Colony Road 1 to 8 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 plays a crucial role in the registration process when buying or selling property in Ward B. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official valuation set by the authorities. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Block 10 N.G.G.O.Colony Road 1 to 8?

The current guideline value for Block 10 N.G.G.O.Colony Road 1 to 8 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 224 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +391% over the years.

What is the land classification for this area?

The land classification for Block 10 N.G.G.O.Colony Road 1 to 8 is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 10 N.G.G.O.Colony Road 1 to 8 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for a property in this area?

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