Guideline Value for Block 20 R.K.Venkatasamy Street

Block 20 R.K.Venkatasamy Street guideline value

The current guideline value for Block 20 R.K.Venkatasamy Street 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 it is classified as Commercial Special Type - I.

How the guideline value of Block 20 R.K.Venkatasamy Street has changed

The guideline value for Block 20 R.K.Venkatasamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,436 per sq.ft, which increased to Rs 1,609 per sq.ft in 2003, marking a 12% rise. The value then grew to Rs 2,000 per sq.ft in 2007, reflecting a 24% increase. By 2012, the value was Rs 7,000 per sq.ft, a significant 250% increase from the previous revision. However, the value dropped to Rs 4,690 per sq.ft in 2017, representing a 33% decrease. The most recent revisions saw the value rise again to Rs 7,000 per sq.ft in 2023, and further to Rs 7,700 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 436%. The register has no figures for the years not mentioned in the revisions.

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. The median value for these streets is Rs 1,375 per sq.ft, placing Block 20 R.K.Venkatasamy Street's 2024 figure above that median.

• Block 20 Sengoda Street: Rs 2,750 per sq.ft (2024)
• Block 20 Nethaji Road Part 1: Rs 5,500 per sq.ft (2024)
• Block 20 Veerapathra Chettiar St: Rs 2,750 per sq.ft (2024)
• Block 20 Venkatasalam Street: Rs 2,750 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 20 Easwaran Kovil Lane: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 R.K.Venkatasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Block 20 R.K.Venkatasamy Street?

The Sub Registrar Office covering Block 20 R.K.Venkatasamy Street 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 C

The guideline value plays a crucial role in the registration process for property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 20 R.K.Venkatasamy Street?

The current guideline value for Block 20 R.K.Venkatasamy Street 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 1,436 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 436% over the years.

What is the registration fee for properties in this area?

The registration fee is calculated at 2% of the guideline value, which for a property valued at Rs 7,700 per sq.ft would be Rs 1,54,000 for a 1,000 sq.ft plot.

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

The Sub Registrar Office for Block 20 R.K.Venkatasamy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in Ward C?

Stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher, ensuring that the appropriate fees are collected during property transactions.