Guideline Value for Block 14 Kumarasamy Street

Block 14 Kumarasamy Street guideline value

The current guideline value for Block 14 Kumarasamy Street is Rs 825 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 II Type - II.

How the guideline value of Block 14 Kumarasamy Street has changed

The guideline value for Block 14 Kumarasamy Street has undergone several revisions over the years. The earliest recorded value was Rs 361 per sq.ft in 2002, which increased to Rs 405 per sq.ft in 2003, marking a change of +12%. In 2007, the value further rose to Rs 500 per sq.ft, reflecting an increase of +23%. The 2012 revision saw the value remain at Rs 750 per sq.ft, which was a significant jump of +50% from the previous figure.

In 2017, the guideline value changed to Rs 502 per sq.ft, a decrease of -33%. However, this was followed by a substantial increase to Rs 750 per sq.ft in 2023, marking an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 825 per sq.ft, which is a rise of +10% from the previous year. The overall change from 2002 to 2024 is +129%.

Guideline values in Ward B

Ward B village has a total of 170 streets under the Erode Joint I SRO, with guideline values 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 14 Kumarasamy Street's 2024 figure below that median.

• Block 14 Kumarasamy Layout: 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 Patel Road: Rs 1,375 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 14 Kumarasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total charges to Rs 74,250. 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 14 Kumarasamy Street?

The Sub Registrar Office that covers Block 14 Kumarasamy 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 is a crucial factor during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate the fees, ensuring that all transactions are compliant with the regulations set by the Registration Department.

When a property is sold, the guideline value helps in establishing the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation of the property based on location and land classification.

Frequently asked questions

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

The current guideline value for Block 14 Kumarasamy Street 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, showing an overall increase of +129% over the years.

What is the stamp duty rate for properties in Block 14 Kumarasamy Street?

The stamp duty rate for properties in Block 14 Kumarasamy Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 14 Kumarasamy Street located?

The Sub Registrar Office for Block 14 Kumarasamy Street is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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

Other streets in Ward B with similar guideline values include Block 14 Kumarasamy Layout and Block 14 Kanthappa Street, both at Rs 825 per sq.ft in 2024.