Guideline Value for Block 19 N.G.G.O.Colony Street 1 to 8

Block 19 N.G.G.O.Colony Street 1 to 8 guideline value

The current guideline value for Block 19 N.G.G.O.Colony Street 1 to 8 is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 19 N.G.G.O.Colony Street 1 to 8 has changed

The guideline value for this street has seen several revisions over the years. In 2002, the value was Rs 484 per sq.ft, which increased to Rs 543 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 750 per sq.ft in 2007, a +38% increase. Following that, in 2012, it was revised to Rs 1,000 per sq.ft, reflecting a +33% change. However, in 2017, it dropped to Rs 670 per sq.ft, which was a decrease of -33%. The value then increased significantly to Rs 1,000 per sq.ft in 2023, a rise of +49%, and it has now reached Rs 1,100 per sq.ft in 2024, marking a +10% change.

It is important to note that there are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 is +127%.

Guideline values in Ward B

In Ward B, there are 170 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 the median being Rs 1,100 per sq.ft. The guideline value for Block 19 N.G.G.O.Colony Street 1 to 8 is equal to this median.

• Block 19 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 19 Marappa Gounder Street 1,2,3: Rs 1,100 per sq.ft (2024)
• Block 19 E.V.Nanjappa Street OR Periyanna Gounder Street T.S 14: Rs 1,100 per sq.ft (2024)
• Block 1 Brough Road 1,2 Main Road: Rs 6,600 per sq.ft (2024)
• Block 1 Chinnamuthu Street 1: Rs 2,200 per sq.ft (2024)
• Block 1 Chinnamuthu Street 2: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 N.G.G.O.Colony Street 1 to 8

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 19 N.G.G.O.Colony Street 1 to 8?

The Sub Registrar Office that covers Block 19 N.G.G.O.Colony Street 1 to 8 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 further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When buying or selling property, it is essential to be aware that the guideline value may influence the overall cost of the transaction. It is advisable to check the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Block 19 N.G.G.O.Colony Street 1 to 8?

The current guideline value for Block 19 N.G.G.O.Colony Street 1 to 8 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 484 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing an overall increase of +127% over the years.

What is the stamp duty rate for property in this area?

The stamp duty rate for property in Block 19 N.G.G.O.Colony Street 1 to 8 is 7% of the guideline value or sale price, whichever is higher.

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, in the Coimbatore registration zone.

How can I calculate the registration fees for my property?

You can calculate the registration fees using the stamp duty and registration fee calculator available online.