Guideline Value for Block 11 Power House Road

Block 11 Power House Road guideline value

The current guideline value of Block 11 Power House Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 11 Power House Road has changed

The guideline value for Block 11 Power House Road has seen several revisions over the years. In 2003, the value was Rs 501 per sq.ft, which increased to Rs 750 per sq.ft in 2007, marking a 50% rise. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting a 33% increase. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. This was followed by a significant increase to Rs 1,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 120%.

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, with the median value being Rs 1,100 per sq.ft. The guideline value for Block 11 Power House Road is equal to this median.

• Block 11 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 11 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 11 N.G.G.O.Colony 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 11 Muthukaruppan Street: Rs 1,650 per sq.ft (2024)
• Block 12 A.Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 11 Gandhi Nagar Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Power House 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, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to 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 more details.

Which Sub Registrar Office covers Block 11 Power House Road?

The Sub Registrar Office that covers Block 11 Power House 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It serves as a baseline for calculating stamp duty and registration fees, ensuring that both parties are aware of the minimum value recognized by the government.

When a property is sold, the guideline value helps determine the official sale price for taxation purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any legal complications during the transaction.

Frequently asked questions

What is the current guideline value of Block 11 Power House Road?

The current guideline value of Block 11 Power House 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 501 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 120% over these years.

What is the land classification of Block 11 Power House Road?

Block 11 Power House Road is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 11 Power House Road 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 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%.