Guideline Value for Block 20 N.G.G.O.Colony Street 1 to 8

Block 20 N.G.G.O.Colony Street 1 to 8 guideline value

The current guideline value for Block 20 N.G.G.O.Colony Street 1 to 8 is Rs 825 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 - II.

How the guideline value of Block 20 N.G.G.O.Colony Street 1 to 8 has changed

The guideline value for Block 20 N.G.G.O.Colony Street 1 to 8 has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 207 per sq.ft. In 2003, it increased to Rs 232 per sq.ft, marking a change of +12%. The 2007 revision saw a significant rise to Rs 400 per sq.ft, which was an increase of +72%. Following that, in 2012, the value was revised to Rs 750 per sq.ft, reflecting an increase of +88% from the previous revision. However, the 2017 revision brought the value down to Rs 502 per sq.ft, a decrease of -33%. The guideline value then rose to Rs 750 per sq.ft in 2023, with an increase of +49%. Finally, the current value is Rs 825 per sq.ft in 2024, showing a change of +10% from the previous year.

There are no figures available for revisions in years other than those listed above for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 20 N.G.G.O.Colony Street 1 to 8 is below this median.

• Block 20 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 20 S.K.C.Road: Rs 825 per sq.ft (2024)
• Block 20 Devaki Street: Rs 825 per sq.ft (2024)
• Block 20 Chennimalai ( or) Muthukumarasamy Street: Rs 825 per sq.ft (2024)
• Block 21 Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 1 Perundurai Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 N.G.G.O.Colony Street 1 to 8

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. Please 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 20 N.G.G.O.Colony Street 1 to 8?

The Sub Registrar Office that covers Block 20 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 more details.

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

The guideline value is an important factor when registering property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it helps in ensuring compliance with the registration requirements set by the authorities. It also aids in understanding the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 20 N.G.G.O.Colony Street 1 to 8?

The current guideline value for Block 20 N.G.G.O.Colony Street 1 to 8 is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 207 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +299% over the years.

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

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 8,25,000. The stamp duty is Rs 57,750, and the registration fee is Rs 16,500, totaling Rs 74,250.

Which office handles the registration for this street?

The Erode Joint I Sub Registrar Office handles the registration for Block 20 N.G.G.O.Colony Street 1 to 8, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 20 N.G.G.O.Colony Street 1 to 8?

The land classification for Block 20 N.G.G.O.Colony Street 1 to 8 is Residential Class II Type - II.