Guideline Value for Block 2 Ranga Bavan Street

Block 2 Ranga Bavan Street guideline value

The current guideline value for Block 2 Ranga Bavan Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 2 Ranga Bavan Street has changed

The guideline value for Block 2 Ranga Bavan Street has seen several revisions over the years. In 2002, the value was Rs 141 per sq.ft, which increased to Rs 158 per sq.ft in 2003. The value continued to rise, reaching Rs 250 per sq.ft in 2007, followed by a significant jump to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value increased again to Rs 700 per sq.ft in 2023, and most recently, it has risen to Rs 771 per sq.ft in 2024.

Between the revisions, the most notable changes include a 140% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. From 2017 to 2023, there was a substantial increase of 74%, and the most recent change from 2023 to 2024 reflects a 10% increase. The overall change from 2002 to 2024 shows an increase of 447%.

Guideline values in Ward D

In Ward D, there are 200 streets that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 2 Ranga Bavan Street is below this median.

• Block 2 Ponnusamy Theru: Rs 770 per sq.ft (2024)
• Block 2 Veerappa Street: Rs 770 per sq.ft (2024)
• Block 2 New Cauvery Road: Rs 771 per sq.ft (2024)
• Block 2 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 2 Karungalpalayam Vaykal Marapalam Road: Rs 825 per sq.ft (2024)
• Block 2 Arumugam Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Ranga Bavan Street

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 cost for these fees to Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 2 Ranga Bavan Street?

The Sub Registrar Office that covers Block 2 Ranga Bavan Street 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 D

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value for Block 2 Ranga Bavan Street?

The current guideline value for Block 2 Ranga Bavan Street 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 from Rs 141 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 447% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970 and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which Sub Registrar Office should I contact for transactions in this area?

The Erode Joint I Sub Registrar Office is responsible for transactions in Block 2 Ranga Bavan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 2 Ranga Bavan Street?

Block 2 Ranga Bavan Street is classified as Residential Class II Type - III, which indicates its designation for residential use within the local planning framework.