Guideline Value for Block 16 R.K. Venkatasamy Street

Block 16 R.K. Venkatasamy Street guideline value

The current guideline value for Block 16 R.K. Venkatasamy 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 it is classified as Commercial Special Type - I.

How the guideline value of Block 16 R.K. Venkatasamy Street has changed

The guideline value for Block 16 R.K. Venkatasamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,380 per sq.ft, which increased to Rs 1,548 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 2,500 per sq.ft in 2007, reflecting a 61% change. Following this, the value jumped to Rs 7,000 per sq.ft in 2012, a remarkable increase of 180%. However, it decreased to Rs 4,690 per sq.ft in 2017, which was a 33% decline. The value then rose again to Rs 7,000 per sq.ft in 2023, before reaching the current value of Rs 7,700 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value for this street has increased by 458%. The register has no figures for the years not mentioned in this article.

Guideline values in Ward D

In Ward D, the guideline values vary significantly, with figures ranging from Rs 770 to Rs 7,700 per sq.ft as per the 2024 revision. The median guideline value in this ward is Rs 798 per sq.ft, indicating that Block 16 R.K. Venkatasamy Street's current value is above this median.

• Block 16 Valaiyakara Street: Rs 1,375 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 16 Municipal Street No 2: Rs 2,530 per sq.ft (2024)
• Block 17 Ayyanarappan Kovil Street 1,2,3a: Rs 825 per sq.ft (2024)
• Block 16 Municipal Lane No 1: Rs 2,530 per sq.ft (2024)
• Block 17 Cauvery Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 R.K. Venkatasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total 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, bringing the total cost for these fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 16 R.K. Venkatasamy Street?

The Sub Registrar Office that covers Block 16 R.K. Venkatasamy 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 crucial factor in property transactions in Ward D, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 16 R.K. Venkatasamy Street?

The current guideline value for Block 16 R.K. Venkatasamy 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 1,380 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 458% over the years.

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 is the Sub Registrar Office located for this street?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties in Ward D, impacting the calculation of stamp duty and registration fees during property transactions.