Guideline Value for Block 16 Rajaji Street

Block 16 Rajaji Street guideline value

The current guideline value of Block 16 Rajaji Street is Rs 825 per sq.ft. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 16 Rajaji Street has changed

The guideline value for Block 16 Rajaji Street has seen several revisions over the years. In 2002, the value was Rs 359 per sq.ft. This increased to Rs 406 per sq.ft in 2003, marking a rise of 13%. The value continued to increase to Rs 500 per sq.ft in 2007, a 23% increase from the previous revision. In 2012, the guideline value was Rs 750 per sq.ft, reflecting a significant 50% increase. However, this figure dropped to Rs 502 per sq.ft in 2017, showing a decrease of 33%. The value then rose to Rs 750 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 825 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 130%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Ward E

In Ward E, the guideline values range from Rs 770 to Rs 6,600 per sq.ft, with the median being Rs 825 per sq.ft. The guideline value of Block 16 Rajaji Street is equal to this median value.

• Block 16 Nethaji Road: Rs 1,375 per sq.ft (2024)
• Block 16 Muthukumarasamy Nagar(Singaravelu Street): Rs 825 per sq.ft (2024)
• Block 17 Annamalai Pillai Lane: Rs 771 per sq.ft (2024)
• Block 17 Annamalai Pillai Street: Rs 771 per sq.ft (2024)
• Block 17 E.V. Ramasamy Street: Rs 771 per sq.ft (2024)
• Block 16 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Rajaji Street

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value would be Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. 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 16 Rajaji Street?

The Sub Registrar Office that covers Block 16 Rajaji Street 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 more information.

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

The guideline value is a critical factor during property registration in Ward E. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is accurately recorded and that the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of Block 16 Rajaji Street?

The current guideline value of Block 16 Rajaji Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 359 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 130% over this period.

What is the land classification of Block 16 Rajaji Street?

Block 16 Rajaji Street falls under the Residential Class II Type - II land classification.

Where is the Sub Registrar Office for this area located?

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

How is stamp duty calculated for properties in Block 16 Rajaji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 8,25,000, leading to a stamp duty of Rs 57,750.