Guideline Value for Block 20 S.K.C.Road

Block 20 S.K.C.Road guideline value

The current guideline value of Block 20 S.K.C.Road is Rs 825 per sq.ft, effective from 1 July 2024. This property 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 S.K.C.Road has changed

The guideline value for Block 20 S.K.C.Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 361 per sq.ft. This increased to Rs 405 per sq.ft in 2003, marking a rise of 12%. The value then saw further increases, reaching Rs 500 per sq.ft in 2007, which was a 23% increase from the previous figure. The 2012 revision saw a drop to Rs 750 per sq.ft, a decrease of 50% from 2007. However, this was followed by a significant increase to Rs 502 per sq.ft in 2017, which represented a 49% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2023, and finally, the current value of Rs 825 per sq.ft in 2024 reflects a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 129%. Notably, there are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Ward B

In Ward B, the guideline values for properties range from Rs 770 to Rs 6,600 per sq.ft as per the 2024 revision, with a median value of Rs 1,100 per sq.ft. The guideline value of Block 20 S.K.C.Road is below this median.

• Block 20 N.G.G.O.Colony Street 1 to 8: Rs 825 per sq.ft (2024)
• Block 20 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 21 Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 20 Devaki Street: Rs 825 per sq.ft (2024)
• Block 21 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 20 Chennimalai ( or) Muthukumarasamy Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 S.K.C.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. 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 S.K.C.Road?

The Sub Registrar Office that covers Block 20 S.K.C.Road 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 B

The guideline value is a critical factor when buying or selling property in Ward B. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure that all financial obligations are met accurately.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is legally documented and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Block 20 S.K.C.Road?

The current guideline value of Block 20 S.K.C.Road is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 361 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, marking a total increase of 129% over this period.

What are the stamp duty and registration fees for property in Block 20 S.K.C.Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,25,000. The stamp duty at 7% is Rs 57,750, and the registration fee at 2% is Rs 16,500, totaling Rs 74,250.

Which office handles property registrations in this area?

The Erode Joint I Sub Registrar Office handles property registrations for Block 20 S.K.C.Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 20 S.K.C.Road?

Block 20 S.K.C.Road is classified as Residential Class II Type - II, which is important for understanding its usage and potential restrictions.