Guideline Value for Block 11 50 feet Road

Block 11 50 feet Road guideline value

The current guideline value for Block 11 50 feet Road is Rs 1,100 per sq.ft. 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 11 50 feet Road has changed

The guideline value for Block 11 50 feet Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 361 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a 12% rise. The value then rose by 23% to Rs 500 per sq.ft in 2007. In the 2012 revision, the value was Rs 1,000 per sq.ft, which represented a 100% increase from the previous revision. However, it decreased by 33% to Rs 670 per sq.ft in 2017.

In the subsequent revisions, the guideline value increased significantly. The 2023 revision set the value at Rs 1,000 per sq.ft, which was a 49% increase from the 2017 figure. The most recent 2024 revision has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year. There are no figures available for any other revisions 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 for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value for Block 11 50 feet Road.

• Block 10 Varatharajan Street: Rs 1,100 per sq.ft (2024)
• Block 11 Gandhi Nagar Road: Rs 2,530 per sq.ft (2024)
• Block 10 Poosari Chennimalai Street 1 to 5: Rs 1,100 per sq.ft (2024)
• Block 11 Muthukaruppan Street: Rs 1,650 per sq.ft (2024)
• Block 10 O.A.Ramasamy 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)

Stamp duty and registration fee for property in Block 11 50 feet Road

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, bringing the total to Rs 99,000. 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 11 50 feet Road?

The Sub Registrar Office that covers Block 11 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 information.

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

The guideline value is a crucial aspect when buying or selling property in Ward B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate taxes from property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the necessary fees are paid to the government.

Frequently asked questions

What is the current guideline value for Block 11 50 feet Road?

The current guideline value for Block 11 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 significantly from Rs 361 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 205% over the years.

What is the land classification for Block 11 50 feet Road?

Block 11 50 feet Road is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Block 11 50 feet Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How do stamp duty and registration fees work for properties in this area?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are collected during property transactions in the area.