Guideline Value for Block 18 Railway Colony Road

Block 18 Railway Colony Road guideline value

The current guideline value of Block 18 Railway Colony Road is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 18 Railway Colony Road has changed

The guideline value for Block 18 Railway Colony Road has seen several revisions over the years. In 2002, the guideline value was Rs 221 per sq.ft, which increased to Rs 250 per sq.ft in 2003. Following this, the value rose to Rs 350 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 335 per sq.ft. From 2017 to 2023, there was a significant increase to Rs 700 per sq.ft, and the most recent revision in 2024 set the value at Rs 771 per sq.ft.

Overall, the changes between revisions indicate a rise of 249% from 2002 to 2024. Specifically, the increase from 2023 to 2024 was 10%, while the rise from 2017 to 2023 was 109%. The register has no figure for this street for the years not listed.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median of Rs 825 per sq.ft. The guideline value for Block 18 Railway Colony Road is below this median.

• Block 18 Railway Station Road: Rs 1,650 per sq.ft (2024)
• Block 18 Poondhurai Road: Rs 771 per sq.ft (2024)
• Block 19 Balasubba Rayalu Naidu Street: Rs 825 per sq.ft (2024)
• Block 19 East Pattakarar Street: Rs 1,100 per sq.ft (2024)
• Block 19 Jeevandham Road Main Road: Rs 1,100 per sq.ft (2024)
• Block 17 Venkitaraman Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Railway Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees to Rs 69,390. Please note that 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 18 Railway Colony Road?

The Sub Registrar Office that covers Block 18 Railway Colony Road 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 crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 18 Railway Colony Road?

The current guideline value of Block 18 Railway Colony Road is Rs 771 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 221 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 249% over the years.

What is the classification of land on Block 18 Railway Colony Road?

Block 18 Railway Colony Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Block 18 Railway Colony Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value and the sale price of the property. For a plot of 1,000 sq.ft at the current rate, the total fees amount to Rs 69,390.