Guideline Value for Block 15 Sait Colony

Block 15 Sait Colony guideline value

The current guideline value of Block 15 Sait Colony, located in Ward A village under the Erode Joint I SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Block 15 Sait Colony has changed

The guideline value of Block 15 Sait Colony has seen significant changes over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased to Rs 618 per sq.ft in 2003, marking a substantial rise of 489%. The value further increased to Rs 900 per sq.ft in 2007, which was a 46% increase. In 2012, the value was Rs 2,500 per sq.ft, reflecting a notable increase of 178% from 2007. However, between 2012 and 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The next revision in 2023 saw the value rise to Rs 2,500 per sq.ft, a 49% increase, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2,519%.

Guideline values in Ward A

In Ward A, there are 111 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 1,375 per sq.ft. The guideline value of Block 15 Sait Colony is above this median.

• Block 16 Agil Street Colony (Agil Medu Street): Rs 2,750 per sq.ft (2024)
• Block 16 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)
• Block 15 E.V.Nanjappa Nagar Road: Rs 6,600 per sq.ft (2024)
• Block 15 A.Veerapathraroad 1.2.3 (or) Sakthi Road Main Road: Rs 3,300 per sq.ft (2024)
• Block 15 A.Veerapathra Road 1.2.3 (or) Sakthi Main Road: Rs 3,300 per sq.ft (2024)
• Block 16 Nachiappa Street 1 & 2: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 15 Sait Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 15 Sait Colony?

The Sub Registrar Office that covers Block 15 Sait Colony 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 details.

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

The guideline value is a crucial factor during property registration in Ward A. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is officially recognized by the government.

When buying or selling property, the guideline value helps establish a fair price for the transaction, and it is important for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 15 Sait Colony?

The current guideline value of Block 15 Sait Colony is Rs 2,750 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 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,519% over the years.

What is the land classification for Block 15 Sait Colony?

Block 15 Sait Colony is classified as Commercial Class I Type - III.

Where can I find the registration office for Block 15 Sait Colony?

The registration office for Block 15 Sait Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in Block 15 Sait Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500.