Guideline Value for Block 14 Kumarasamy Layout

Block 14 Kumarasamy Layout guideline value

The current guideline value for Block 14 Kumarasamy Layout is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 14 Kumarasamy Layout has changed

The guideline value for Block 14 Kumarasamy Layout has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 361 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a rise of 12%. The value continued to grow, reaching Rs 500 per sq.ft in 2007, a 23% increase. In 2012, the value was Rs 750 per sq.ft, reflecting a 50% increase from the previous revision. However, it then decreased to Rs 502 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 750 per sq.ft in 2023, and most recently, it has increased to Rs 825 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 129%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO carrying 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 14 Kumarasamy Layout is below this median.

• Block 14 Kumarasamy Street: Rs 825 per sq.ft (2024)
• Block 14 Kanthappa Street: Rs 825 per sq.ft (2024)
• Block 14 Kanthappa Lane: Rs 771 per sq.ft (2024)
• Block 14 Kalaimagal School Road: Rs 1,375 per sq.ft (2024)
• Block 14 E.V.Nanajappa Road: Rs 3,300 per sq.ft (2024)
• Block 14 Patel Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Kumarasamy Layout

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 14 Kumarasamy Layout?

The Sub Registrar Office that covers Block 14 Kumarasamy Layout 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 is a critical factor when registering property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable taxes. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 14 Kumarasamy Layout?

The current guideline value for Block 14 Kumarasamy Layout is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 361 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750, and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles property registrations for Block 14 Kumarasamy Layout?

The Erode Joint I Sub Registrar Office handles property registrations for Block 14 Kumarasamy Layout, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is important for buyers and sellers to be aware of this value to ensure proper compliance with local regulations.