Guideline Value for Block 22 Rasa Gounder Lane

Block 22 Rasa Gounder Lane guideline value

The current guideline value of Block 22 Rasa Gounder Lane is Rs 772 per sq.ft. This property is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class II Type - III.

How the guideline value of Block 22 Rasa Gounder Lane has changed

The guideline value for Block 22 Rasa Gounder Lane has undergone several revisions since 2002. In 2002, the guideline value was Rs 198 per sq.ft, which increased to Rs 224 per sq.ft in 2003, marking a change of +13%. The value then rose significantly to Rs 350 per sq.ft in 2007, a change of +56%. By 2012, it had increased to Rs 600 per sq.ft, reflecting a +71% change. However, in 2017, the value dropped to Rs 402 per sq.ft, a decrease of -33%. The guideline value then saw a substantial increase to Rs 700 per sq.ft in 2023, which was a +74% change. The most recent revision in 2024 set the value at Rs 772 per sq.ft, a +10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned above. Overall, from 2002 to 2024, the guideline value has increased by +290%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 22 Rasa Gounder Lane is below this median.

• Block 22 Rasa Gounder Kadu: Rs 825 per sq.ft (2024)
• Block 22 Rasa Gounder Street: Rs 825 per sq.ft (2024)
• Block 22 S.K.C Road: Rs 1,650 per sq.ft (2024)
• Block 22 Nallappa Gounder Street: Rs 772 per sq.ft (2024)
• Block 22 Municipal Lane: Rs 771 per sq.ft (2024)
• Block 22 Karuppa Gounder Street: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Rasa Gounder Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 772 per sq.ft, the total guideline value amounts to Rs 7,72,000. The stamp duty at 7% would be Rs 54,040, and the registration fee at 2% would be Rs 15,440, bringing the total cost for these fees to Rs 69,480. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 22 Rasa Gounder Lane?

The Sub Registrar Office that covers Block 22 Rasa Gounder Lane 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 more information.

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

The guideline value is an essential factor when registering property in Ward E. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in property transactions and aids in the assessment of taxes owed during the transfer of ownership.

Frequently asked questions

What is the current guideline value of Block 22 Rasa Gounder Lane?

The current guideline value of Block 22 Rasa Gounder Lane is Rs 772 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 198 per sq.ft in 2002 to Rs 772 per sq.ft in 2024, which is an overall increase of +290%.

What is the classification of land for Block 22 Rasa Gounder Lane?

Block 22 Rasa Gounder Lane is classified as Residential Class II Type - III.

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

The Sub Registrar Office for Block 22 Rasa Gounder Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, Coimbatore registration zone.

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, the stamp duty for a 1,000 sq.ft plot at the current rate would be Rs 54,040.