Guideline Value for Block 13 O.A.Ramasamy Street

Block 13 O.A.Ramasamy Street guideline value

The current guideline value of Block 13 O.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 is classified as Residential Class I Type - II.

How the guideline value of Block 13 O.A.Ramasamy Street has changed

The guideline value for Block 13 O.A.Ramasamy Street has undergone several revisions over the years. The earliest recorded figure is Rs 241 per sq.ft in 2002, which increased to Rs 270 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting an increase of +48%. In 2012, the guideline value was Rs 1,500 per sq.ft, which was a substantial jump of +275% from the previous revision. However, this value dropped to Rs 1,005 per sq.ft in 2017, resulting in a decrease of -33%.

From 2017 to 2023, the guideline value increased to Rs 1,500 per sq.ft, which is a rise of +49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, marking a change of +10% from the previous year. The register has no figure for this street for the years not mentioned.

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 value of Rs 1,100 per sq.ft. The guideline value for Block 13 O.A.Ramasamy Street is above this median.

• Block 13 Poosari Kadu: Rs 1,100 per sq.ft (2024)
• Block 13 Marappa Street 1,2,3: Rs 825 per sq.ft (2024)
• Block 13 S.K.Chennimalai Street: Rs 1,100 per sq.ft (2024)
• Block 13 Varatharajan St: Rs 1,100 per sq.ft (2024)
• Block 13 E.V.Nanjappa Road: Rs 3,300 per sq.ft (2024)
• Block 14 E.V.Nanajappa Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 13 O.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 amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 13 O.A.Ramasamy Street?

The Sub Registrar Office covering Block 13 O.A.Ramasamy 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 B

The guideline value plays a crucial role during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware that the guideline value may influence the overall cost of the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction adheres to the legal requirements set forth by the state. Therefore, understanding the guideline value is essential for anyone involved in property transactions in this area.

Frequently asked questions

What is the current guideline value of Block 13 O.A.Ramasamy Street?

The current guideline value of Block 13 O.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 241 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +585% over the years.

What are the stamp duty rates for property in Block 13 O.A.Ramasamy Street?

The stamp duty for property transactions in Block 13 O.A.Ramasamy Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Block 13 O.A.Ramasamy Street?

The Sub Registrar Office for Block 13 O.A.Ramasamy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 13 O.A.Ramasamy Street?

Block 13 O.A.Ramasamy Street is classified as Residential Class I Type - II, indicating its suitability for residential development.