Guideline Value for Block 11 Ramasamy Street

Block 11 Ramasamy Street guideline value

The current guideline value of Block 11 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Block 11 Ramasamy Street has changed

The guideline value for Block 11 Ramasamy Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 244 per sq.ft. This value increased to Rs 274 per sq.ft in 2003, marking a 12% rise. In 2007, the guideline value jumped significantly to Rs 500 per sq.ft, reflecting an 82% increase. Following this, in 2012, the value rose to Rs 1,500 per sq.ft, a substantial 200% increase from the previous revision. However, it then decreased to Rs 1,005 per sq.ft in 2017, resulting in a 33% drop. The value then increased again to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 576%. There are no figures available for 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 guideline value in this area is Rs 1,100 per sq.ft, placing Block 11 Ramasamy Street's 2024 figure above that median.

• Block 11 Power House Road: Rs 1,100 per sq.ft (2024)
• Block 11 Perundurai Road: Rs 4,400 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 12 Arun Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Ramasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 11 Ramasamy Street?

The Sub Registrar Office that covers Block 11 Ramasamy Street 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 is a crucial factor in property transactions within Ward B. It serves as a reference point for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees. This ensures that both parties are aware of their financial obligations and helps facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Block 11 Ramasamy Street?

The current guideline value of Block 11 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 increased from Rs 244 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 576% over the years.

What are the other streets in Ward B with their guideline values?

Other streets in Ward B include Block 11 Power House Road at Rs 1,100 per sq.ft, Block 11 Perundurai Road at Rs 4,400 per sq.ft, and Block 11 Muthukaruppan Street at Rs 1,650 per sq.ft, among others.

How is stamp duty calculated for properties in Block 11 Ramasamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 at the current guideline value.

Where is the Sub Registrar Office for Block 11 Ramasamy Street located?

The Sub Registrar Office covering Block 11 Ramasamy Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.