Guideline Value for Block 19 Thiru.V.K.Road

Block 19 Thiru.V.K.Road guideline value

The current guideline value for Block 19 Thiru.V.K.Road is Rs 1,375 per sq.ft, effective from 1 July 2024. This property is located in Ward A village, under the Erode Joint I SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Block 19 Thiru.V.K.Road has changed

The guideline value for Block 19 Thiru.V.K.Road has undergone several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased significantly to Rs 598 per sq.ft in 2003, marking a remarkable increase of 470%. The value continued to rise, reaching Rs 750 per sq.ft in 2007, an increase of 25%. The 2012 revision saw the value at Rs 1,250 per sq.ft, which was a 67% increase from the previous revision. However, the value decreased to Rs 837 per sq.ft in 2017, reflecting a decline of 33% before rising again to Rs 1,250 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,375 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1210%. The register has no figures for revisions in years other than those specified.

Guideline values in Ward A

Ward A contains 111 streets under the Erode Joint I SRO, with the 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 1,375 per sq.ft, which is equal to the 2024 guideline value of Block 19 Thiru.V.K.Road.

• Block 19 Thiyagi Kumaram Street: Rs 1,375 per sq.ft (2024)
• Block 19 Varanavasi Street: Rs 825 per sq.ft (2024)
• Block 19 Nasiyanur Road: Rs 1,375 per sq.ft (2024)
• Block 19 Municipal Colony Road 1 to 5: Rs 2,750 per sq.ft (2024)
• Block 1 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 1 Krishnapalayam Road 1,2,3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 Thiru.V.K.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total cost for these fees to Rs 1,23,750. It is important to note that the 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 19 Thiru.V.K.Road?

The Sub Registrar Office that covers Block 19 Thiru.V.K.Road 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 more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 19 Thiru.V.K.Road?

The current guideline value for Block 19 Thiru.V.K.Road is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 1210% over the years.

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

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

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

The Sub Registrar Office for Block 19 Thiru.V.K.Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What are the other streets in Ward A with guideline values?

Other streets in Ward A include Block 19 Thiyagi Kumaram Street, Block 19 Varanavasi Street, Block 19 Nasiyanur Road, and Block 19 Municipal Colony Road 1 to 5, each with their respective guideline values for 2024.