Guideline Value for Block 11 Ranganathan Street

Block 11 Ranganathan Street guideline value

The current guideline value of Block 11 Ranganathan Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 11 Ranganathan Street has changed

The guideline value for Block 11 Ranganathan Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 264 per sq.ft. It increased to Rs 296 per sq.ft in 2003, then to Rs 350 per sq.ft in 2007. The 2012 revision saw a rise to Rs 600 per sq.ft, but it decreased to Rs 402 per sq.ft in 2017. Following that, the value significantly increased to Rs 700 per sq.ft in 2023, and finally to Rs 771 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2003, the value increased by 12%. The increase from 2003 to 2007 was 18%, followed by a significant rise of 71% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 74% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 192%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. Block 11 Ranganathan Street's 2024 value is below this median.

• Block 11 Senniappa Lay-out: Rs 825 per sq.ft (2024)
• Block 11 Periya Mariamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 11 OmKaliamman Kovil Theru: Rs 771 per sq.ft (2024)
• Block 11 Krishnamoorthy Thottam Street 1 2 3: Rs 771 per sq.ft (2024)
• Block 11 Kottaiyar Street: Rs 825 per sq.ft (2024)
• Block 12 Cauvery Road Main Road: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420. Together, these fees would amount to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 11 Ranganathan Street?

The Sub Registrar Office that covers Block 11 Ranganathan 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 D

The guideline value plays a crucial role in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and legally compliant.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Block 11 Ranganathan Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 264 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 192% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which Sub Registrar Office handles registrations for this street?

The Erode Joint I Sub Registrar Office handles registrations for Block 11 Ranganathan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 11 Ranganathan Street?

Block 11 Ranganathan Street is classified as Residential Class II Type - III, indicating its suitability for residential development.