Guideline Value for Block 18 Sait Colony

Block 18 Sait Colony guideline value

The current guideline value of Block 18 Sait Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Ward A village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 18 Sait Colony has changed

The guideline value for Block 18 Sait Colony has seen significant changes over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased to Rs 776 per sq.ft in 2003, marking a substantial rise of 639%. The value continued to grow, reaching Rs 900 per sq.ft in 2007, which was an increase of 16%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a remarkable growth of 178% from the previous revision. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose significantly by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 brought the value to Rs 2,750 per sq.ft, a 10% increase from the previous year. The overall increase from 2002 to 2024 is 2,519%.

Guideline values in Ward A

In Ward A, there are 111 streets that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 18 Sait Colony is above this median, indicating a higher valuation compared to many other streets in the area.

• Block 18 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 18 Vasugi Street (or) Edayan Kattu Thottam: Rs 1,375 per sq.ft (2024)
• Block 19 Chinnamuthu Street: Rs 1,100 per sq.ft (2024)
• Block 18 E.V.Nanjappa Main Road: Rs 6,600 per sq.ft (2024)
• Block 19 E.V.Najappa Road Inside: Rs 2,750 per sq.ft (2024)
• Block 19 E.V.Nanjappa Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Sait Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 18 Sait Colony?

The Sub Registrar Office that covers Block 18 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 information.

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

The guideline value is a crucial factor when buying or selling property in Ward A, as it determines the minimum value for registration purposes. Buyers and sellers must consider this value to ensure compliance with the regulations set by the registration department.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. It is important for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 18 Sait Colony?

The current guideline value for Block 18 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 increased from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,519%.

What is the land classification for Block 18 Sait Colony?

Block 18 Sait Colony is classified as Commercial Class I Type - III.

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

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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.