Guideline Value for Block 21 Thiru.V.K.Road

Block 21 Thiru.V.K.Road guideline value

The current guideline value for Block 21 Thiru.V.K.Road is Rs 1,375 per sq.ft. This property is located in Ward A village under the Erode Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Block 21 Thiru.V.K.Road has changed

The guideline value for Block 21 Thiru.V.K.Road has undergone several revisions since 2002. The register shows that in 2002, the guideline value was Rs 105 per sq.ft, which increased significantly to Rs 598 per sq.ft in 2003, marking a change of +470%. The value then rose to Rs 750 per sq.ft in 2007 (+25%), followed by an increase to Rs 1,250 per sq.ft in 2012 (+67%). However, it decreased to Rs 837 per sq.ft in 2017, reflecting a change of -33%. The value then rose again to Rs 1,250 per sq.ft in 2023 (+49%), and finally to the current value of Rs 1,375 per sq.ft in 2024 (+10%). There are no figures available for any other revisions for this street.

Overall, from 2002 to 2024, the guideline value has increased by +1210%, showcasing significant growth over the years. Each revision reflects the changing landscape of property values in the area, with the most recent figure aligning with the median guideline value in Ward A.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 1,375 per sq.ft, which is equal to the current guideline value for Block 21 Thiru.V.K.Road.

• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)
• Block 22 Chinnamuthu Street -3 2nd Part: Rs 825 per sq.ft (2024)
• Block 21 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 21 Chinnamuthu Street Main Road: Rs 1,375 per sq.ft (2024)
• Block 22 Pappathi Kadu 1 & 2: Rs 771 per sq.ft (2024)
• Block 20 Varanavasi Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Thiru.V.K.Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 21 Thiru.V.K.Road?

The Sub Registrar Office that covers Block 21 Thiru.V.K.Road 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 A

When buying or selling property in Ward A, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. This value is used to calculate the cost of registration, ensuring that all transactions are assessed fairly based on the established rates.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Block 21 Thiru.V.K.Road?

The current guideline value of Block 21 Thiru.V.K.Road is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of +1210% over the years.

What is the land classification for Block 21 Thiru.V.K.Road?

Block 21 Thiru.V.K.Road is classified as Residential Class I Type - III.

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

The Erode Joint I Sub Registrar Office covers Block 21 Thiru.V.K.Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,75,000 would incur a stamp duty of Rs 96,250 at 7%.