Guideline Value for Block 14 Patel Road

Block 14 Patel Road guideline value

The current guideline value of Block 14 Patel Road is Rs 1,375 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Block 14 Patel Road has changed

The guideline value of Block 14 Patel Road has seen several revisions over the years. In 2002, the guideline value was Rs 532 per sq.ft. This increased to Rs 596 per sq.ft in 2003, marking a rise of 12%. The value continued to rise to Rs 750 per sq.ft in 2007, which was a 26% increase from the previous year. In 2012, the value saw a significant jump to Rs 1,250 per sq.ft, reflecting a 67% increase. However, it dropped to Rs 837 per sq.ft in 2017, showing a decrease of 33%. The value then increased substantially to Rs 1,250 per sq.ft in 2023, followed by the current rate of Rs 1,375 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 158%. There are no years in the register with no figure for this street.

Guideline values in Ward B

Within 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 of Block 14 Patel Road is above this median.

• Block 14 S.K.Chenniappa Street: Rs 1,375 per sq.ft (2024)
• Block 14 Kumarasamy Street: Rs 825 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Block 14 Patel Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value is Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, making the total cost for these fees Rs 1,23,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 14 Patel Road?

The Sub Registrar Office that covers Block 14 Patel Road 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 further assistance.

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 that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Block 14 Patel Road?

The current guideline value of Block 14 Patel Road is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 158% over this period.

What are the stamp duty and registration fees for a property in Block 14 Patel Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 96,250 and the registration fee would be Rs 27,500, totaling Rs 1,23,750.

Which office handles property registrations for Block 14 Patel Road?

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

What is the land classification for Block 14 Patel Road?

Block 14 Patel Road is classified as Residential Class I Type - III under the Erode Joint I SRO.