Guideline Value for Block 19 R.K.Venkatasamy Road

Block 19 R.K.Venkatasamy Road guideline value

The current guideline value for Block 19 R.K.Venkatasamy Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and the land classification is Commercial Special Type - I.

How the guideline value of Block 19 R.K.Venkatasamy Road has changed

The guideline value for Block 19 R.K.Venkatasamy Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,336 per sq.ft. In 2003, it increased to Rs 1,497 per sq.ft, marking a 12% rise. The 2007 revision saw a significant jump to Rs 2,000 per sq.ft, which was a 34% increase from the previous year. By 2012, the value rose to Rs 7,000 per sq.ft, reflecting a substantial 250% increase from 2007. However, it dropped to Rs 4,690 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 7,000 per sq.ft, which was a notable 49% rise. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, a 10% increase from the previous year. It is important to note that the register has no figure for this street in any other years not listed.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 19 R.K.Venkatasamy Road is significantly above this median.

• Block 19 New Majith Street: Rs 2,750 per sq.ft (2024)
• Block 19 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 1 Cavuery Road Main Road: Rs 825 per sq.ft (2024)
• Block 19 Hasan Street: Rs 1,375 per sq.ft (2024)
• Block 1 Chokkai Thottam: Rs 771 per sq.ft (2024)
• Block 19 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 R.K.Venkatasamy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 19 R.K.Venkatasamy Road?

The Sub Registrar Office that covers Block 19 R.K.Venkatasamy 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 details.

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

The guideline value is an essential factor during the registration of property transactions in Ward C. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for legal documentation of property sales.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Block 19 R.K.Venkatasamy Road?

The current guideline value for Block 19 R.K.Venkatasamy Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,336 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

What is the stamp duty for property in Block 19 R.K.Venkatasamy Road?

The stamp duty for property in Block 19 R.K.Venkatasamy Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office that covers Block 19 R.K.Venkatasamy Road is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How many streets in Ward C have a guideline value?

There are 250 streets in Ward C under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft.