Guideline Value for Block 10 Park Road

Block 10 Park Road guideline value

The current guideline value for Block 10 Park Road in Ward A village, under the Erode Joint I SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Block 10 Park Road has changed

The guideline value for Block 10 Park Road has seen several revisions over the years. In the 2002 revision, the value was Rs 105 per sq.ft. This increased significantly to Rs 1,154 per sq.ft in 2003, marking a change of +999%. The value then rose to Rs 2,000 per sq.ft in 2007, which was a +73% increase. In 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of -33%. Following this, the 2017 revision set the value at Rs 1,675 per sq.ft, an increase of +49% from the previous figure. The 2023 revision brought the value to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, marking a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +2519%. There are no figures for revisions in years other than those listed above for this street.

Guideline values in Ward A

In Ward A, there are 111 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 guideline value for these streets is Rs 1,375 per sq.ft, placing Block 10 Park Road's 2024 figure above that median.

• Block 10 Veerapathraroad 1,2,3(or) Sakthi Main Road: Rs 4,400 per sq.ft (2024)
• Block 11 Chatram Road: Rs 770 per sq.ft (2024)
• Block 11 Veerapathra Road 1,2,3(or)Sakthi Main Rd: Rs 5,915 per sq.ft (2024)
• Block 12 A.P.Thangavel Road Main Road: Rs 1,375 per sq.ft (2024)
• Block 12 Kumaraguruparan Road: Rs 2,750 per sq.ft (2024)
• Block 12 Veerapathraroad 1,2,3(or) Sakthi Main Road: Rs 5,915 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 Park Road

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 10 Park Road?

The Sub Registrar Office that covers Block 10 Park Road 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 A

The guideline value is a critical factor in property transactions in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the applicable stamp duty and registration fees.

When a property is sold, the registration process requires payment of duties 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 10 Park Road?

The current guideline value for Block 10 Park Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +2519% over this period.

What is the classification of land in Block 10 Park Road?

Block 10 Park Road is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Block 10 Park Road?

The Sub Registrar Office for Block 10 Park Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is stamp duty calculated for properties in Block 10 Park Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.