Guideline Value for Block 15 R.K. Venkitasamy Street

Block 15 R.K. Venkitasamy Street guideline value

The current guideline value for Block 15 R.K. Venkitasamy Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Ward D village, under the Erode Joint I SRO, and is classified as Commercial Special Type - I.

How the guideline value of Block 15 R.K. Venkitasamy Street has changed

The guideline value for Block 15 R.K. Venkitasamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,036 per sq.ft, which increased to Rs 1,162 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,500 per sq.ft in 2007, and then to Rs 7,000 per sq.ft in 2012. However, the value dropped to Rs 4,690 per sq.ft in 2017. From 2017 to 2023, the guideline value saw a substantial increase to Rs 7,000 per sq.ft, and the latest revision in 2024 set it at Rs 7,700 per sq.ft.

The changes between revisions highlight the fluctuations in the guideline value. From 2002 to 2024, the overall increase is 643%. Notably, the jump from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO, with the 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 798 per sq.ft, placing Block 15 R.K. Venkitasamy Street's 2024 figure above that median.

• Block 15 Municipal Lane: Rs 2,530 per sq.ft (2024)
• Block 16 Agrahara Street: Rs 2,200 per sq.ft (2024)
• Block 15 Market Lane: Rs 2,530 per sq.ft (2024)
• Block 16 Cauvery Road: Rs 3,300 per sq.ft (2024)
• Block 16 Jinna Street: Rs 2,750 per sq.ft (2024)
• Block 15 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 15 R.K. Venkitasamy Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 15 R.K. Venkitasamy Street?

The Sub Registrar Office that covers Block 15 R.K. Venkitasamy Street 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 D

The guideline value is a critical factor in the registration of property transactions in Ward D. It serves as the basis for calculating the stamp duty and registration fees that are required during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are paid. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value for Block 15 R.K. Venkitasamy Street?

The current guideline value for Block 15 R.K. Venkitasamy Street is Rs 7,700 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 1,036 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 643% over the years.

What is the median guideline value in Ward D?

The median guideline value in Ward D is Rs 798 per sq.ft, with Block 15 R.K. Venkitasamy Street's 2024 figure being above this median.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 15 R.K. Venkitasamy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.