Guideline Value for Block 2 Thirunagar Colony

Block 2 Thirunagar Colony guideline value

The current guideline value of Block 2 Thirunagar Colony is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Block 2 Thirunagar Colony has changed

The guideline value for Block 2 Thirunagar Colony has seen significant changes over the years. In 2002, the guideline value was Rs 105 per sq.ft, which increased to Rs 420 per sq.ft in 2003. Following this, the value rose to Rs 500 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The revision from 2012 to 2017 saw a decrease of 33%. The jump from 2007 to 2012 was substantial at 300%, while the increase from 2003 to 2007 was 19%. Additionally, the increase from 2002 to 2003 was a remarkable 300%. Overall, from 2002 to 2024, the guideline value has increased by 1995%.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 2 Thirunagar Colony's 2024 figure above this median.

• Block 2 Samiyappa Street 1,2,3 Main Road: Rs 770 per sq.ft (2024)
• Block 2 Pumbing Station Road 1 to 4 Main Road: Rs 825 per sq.ft (2024)
• Block 3 Arumuga Street T.S.50: Rs 771 per sq.ft (2024)
• Block 3 Chinnappa Layout 1 2: Rs 825 per sq.ft (2024)
• Block 3 Chinnappa Layout Huts: Rs 770 per sq.ft (2024)
• Block 3 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Thirunagar Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. Please 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 information.

Which Sub Registrar Office covers Block 2 Thirunagar Colony?

The Sub Registrar Office that covers Block 2 Thirunagar 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 further assistance.

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 base for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that all transactions are conducted transparently and fairly, reflecting the current market conditions as assessed by the authorities.

Frequently asked questions

What is the current guideline value of Block 2 Thirunagar Colony?

The current guideline value of Block 2 Thirunagar Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1995% over this period.

What is the land classification for Block 2 Thirunagar Colony?

Block 2 Thirunagar Colony is classified as Residential Special Type - I.

What is the median guideline value in Ward A?

The median guideline value in Ward A is Rs 1,375 per sq.ft, with Block 2 Thirunagar Colony's 2024 figure being above this median.

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

The Sub Registrar Office for Block 2 Thirunagar Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.