Guideline Value for Block 12 A.Ramasamy Street

Block 12 A.Ramasamy Street guideline value

The current guideline value for Block 12 A.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 12 A.Ramasamy Street has changed

The guideline value for Block 12 A.Ramasamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 242 per sq.ft. This increased to Rs 272 per sq.ft in 2003, marking a 12% rise. The value further increased to Rs 400 per sq.ft in 2007, a significant jump of 47%. In 2012, the value was recorded at Rs 1,500 per sq.ft, which represented a 275% increase from the previous revision. However, this figure dropped to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, there has been a substantial increase of 582% in the guideline value for Block 12 A.Ramasamy Street. It is important to note that there are no other revisions recorded for this street in the register.

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 a median of Rs 1,100 per sq.ft. The guideline value for Block 12 A.Ramasamy Street is above this median.

• Block 12 Arun Street: Rs 1,100 per sq.ft (2024)
• Block 12 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 11 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 11 Power House Road: Rs 1,100 per sq.ft (2024)
• Block 12 Muthukaruppan St: Rs 1,650 per sq.ft (2024)
• Block 11 Perundurai Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 A.Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 12 A.Ramasamy Street?

The Sub Registrar Office that covers Block 12 A.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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When you register a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 12 A.Ramasamy Street?

The current guideline value for Block 12 A.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 changed significantly from Rs 242 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 582%.

What is the registration office for Block 12 A.Ramasamy Street?

The registration office for Block 12 A.Ramasamy Street 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 12 A.Ramasamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the land classification for Block 12 A.Ramasamy Street?

Block 12 A.Ramasamy Street is classified as Residential Class I Type - II, which determines the guideline value applicable to properties in this area.