Guideline Value for Block 16 Sait Colony

Block 16 Sait Colony guideline value

The current guideline value for Block 16 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 16 Sait Colony has changed

The guideline value for Block 16 Sait Colony has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft, which increased significantly to Rs 618 per sq.ft in 2003, marking a change of +489%. Following this, the value rose to Rs 900 per sq.ft in 2007, reflecting an increase of +46%. The guideline value then jumped to Rs 2,500 per sq.ft in 2012, which was a substantial rise of +178%. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The value increased again to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in 2024, a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +2519%. The register has no figure for this street for the years not mentioned above.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, and Block 16 Sait Colony's 2024 figure is above that median.

• Block 17 Akilmedu Street Colony Akilmedu Street: Rs 2,750 per sq.ft (2024)
• Block 16 Nachiappa Street 1 & 2: Rs 2,750 per sq.ft (2024)
• Block 17 E.V.Nanjappa Road Main Road: Rs 6,600 per sq.ft (2024)
• Block 16 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)
• Block 16 Agil Street Colony (Agil Medu Street): Rs 2,750 per sq.ft (2024)
• Block 17 Sait Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Sait Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be 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, totaling Rs 2,47,500. 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 16 Sait Colony?

The Sub Registrar Office that covers Block 16 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 information.

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

The guideline value is an essential factor during property transactions in Ward A, as it determines the minimum value at which a property can be registered. Buyers and sellers must take the guideline value into account when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 16 Sait Colony?

The current guideline value for Block 16 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 from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of +2519% over the years.

What is the land classification for Block 16 Sait Colony?

Block 16 Sait Colony is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Block 16 Sait Colony located?

The Sub Registrar Office for Block 16 Sait Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.