Guideline Value for Block 17 Sait Colony

Block 17 Sait Colony guideline value

The current guideline value of Block 17 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 property falls under the Commercial Class I Type - III land classification.

How the guideline value of Block 17 Sait Colony has changed

The guideline value for Block 17 Sait Colony has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft, which increased to Rs 517 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017 before increasing to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

When looking at the changes, the guideline value increased by 392% from 2002 to 2003 and saw a substantial rise of 178% from 2007 to 2012. Conversely, there was a decrease of 33% from 2012 to 2017. The overall increase from 2002 to 2024 is an impressive 2,519%.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that have 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, placing Block 17 Sait Colony's 2024 figure above this median.

• Block 17 Vasugi Street: Rs 2,530 per sq.ft (2024)
• Block 18 Agil Medu Street: Rs 3,300 per sq.ft (2024)
• Block 18 Arunthathiyar Huts: Rs 770 per sq.ft (2024)
• Block 18 Bharathi Street: Rs 1,375 per sq.ft (2024)
• Block 18 Brough Road: Rs 5,500 per sq.ft (2024)
• Block 18 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 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. It is important to note that 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 information.

Which Sub Registrar Office covers Block 17 Sait Colony?

The Sub Registrar Office that covers Block 17 Sait Colony 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ward A. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is legally recognized and documented.

When a property is registered, the guideline value is considered the minimum value for the transaction, and the fees are calculated based on this 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 of Block 17 Sait Colony?

The current guideline value of Block 17 Sait Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, with the most recent revision in 2024 showing a 10% increase from the previous year, 2023.

What is the land classification of Block 17 Sait Colony?

Block 17 Sait Colony is classified as Commercial Class I Type - III.

Where is the Sub Registrar Office for Block 17 Sait Colony located?

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

How is the stamp duty calculated for properties in Block 17 Sait Colony?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,47,500.