Guideline Value for Block 14 Rajaji Street (Puram)

Block 14 Rajaji Street (Puram) guideline value

The current guideline value of Block 14 Rajaji Street (Puram) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C village, under the Erode Joint I SRO, and is classified as Residential Class III Type - II.

How the guideline value of Block 14 Rajaji Street (Puram) has changed

The guideline value for Block 14 Rajaji Street (Puram) has seen significant changes over the years. In 2002, the value was Rs 162 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 12% rise. Following this, the value rose to Rs 300 per sq.ft in 2007, reflecting a 65% increase. The 2012 revision set the value at Rs 500 per sq.ft, showing a 67% increase from the previous revision. However, in 2017, the value dropped to Rs 335 per sq.ft, indicating a decrease of 33%.

From 2017 to 2023, the guideline value surged to Rs 700 per sq.ft, which is a remarkable 109% increase. The latest revision in 2024 has set the value at Rs 770 per sq.ft, a 10% increase from the previous year. There are no figures for this street for the years not mentioned in the register.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. Block 14 Rajaji Street (Puram) is below this median.

• Block 14 Subbaian Street: Rs 770 per sq.ft (2024)
• Block 15 Cauvery Road Main Road Part 1: Rs 1,375 per sq.ft (2024)
• Block 14 Kannaian Street 1-5: Rs 770 per sq.ft (2024)
• Block 14 Kannaian Layout: Rs 770 per sq.ft (2024)
• Block 15 Janakiammal Layout: Rs 1,100 per sq.ft (2024)
• Block 15 Municipal Higher Secondary School Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Rajaji Street (Puram)

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 details.

Which Sub Registrar Office covers Block 14 Rajaji Street (Puram)?

The Sub Registrar Office that covers Block 14 Rajaji Street (Puram) 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Block 14 Rajaji Street (Puram)?

The current guideline value of Block 14 Rajaji Street (Puram) is Rs 770 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 162 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 375% over the years.

What is the stamp duty for property in Block 14 Rajaji Street (Puram)?

The stamp duty for property in Block 14 Rajaji Street (Puram) is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 14 Rajaji Street (Puram), located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price to ensure that the higher value is used for calculating applicable duties.