Guideline Value for Block 10 O.A.Ramasamy Street

Block 10 O.A.Ramasamy Street guideline value

The current guideline value for Block 10 O.A.Ramasamy Street is Rs 1,650 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 I Type - II.

How the guideline value of Block 10 O.A.Ramasamy Street has changed

The guideline value of Block 10 O.A.Ramasamy Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 225 per sq.ft. This increased to Rs 253 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. In 2012, the value remained at Rs 1,500 per sq.ft, but it dropped to Rs 1,005 per sq.ft in 2017. The most recent revisions show the value at Rs 1,500 per sq.ft in 2023, and it has now increased to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, from 2002 to 2024, the overall increase in the guideline value for Block 10 O.A.Ramasamy Street is 633%. The changes between revisions include a 58% increase from 2003 to 2007, a 275% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

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 guideline value in this area is Rs 1,100 per sq.ft, placing Block 10 O.A.Ramasamy Street's 2024 figure above that median.

• Block 10 N.G.G.O.Colony Road 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 10 Muthukaruppa 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)
• Block 10 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)
• Block 11 50 feet Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 O.A.Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Please note that the 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 10 O.A.Ramasamy Street?

The Sub Registrar Office that covers Block 10 O.A.Ramasamy 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 information.

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

The guideline value is an essential factor when registering property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the registration office will assess the guideline value to ensure that the correct amount of stamp duty is collected. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 10 O.A.Ramasamy Street?

The current guideline value for Block 10 O.A.Ramasamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What is the land classification for Block 10 O.A.Ramasamy Street?

Block 10 O.A.Ramasamy Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Block 10 O.A.Ramasamy Street 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,48,500, including stamp duty and registration fees.