Guideline Value for Block 22 Sri Ranga Naicker Street

Block 22 Sri Ranga Naicker Street guideline value

The current guideline value for Block 22 Sri Ranga Naicker Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Block 22 Sri Ranga Naicker Street has changed

The guideline value for Block 22 Sri Ranga Naicker Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 138 per sq.ft. It increased to Rs 155 per sq.ft in 2003, followed by a significant rise to Rs 250 per sq.ft in 2007. The value then saw a substantial increase to Rs 600 per sq.ft in 2012, before dropping to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 700 per sq.ft, and the most recent 2024 revision raised it to Rs 771 per sq.ft.

Between the revisions, several notable changes occurred. From 2002 to 2003, the value increased by 12%. The rise from 2003 to 2007 was 61%, followed by a remarkable 140% increase from 2007 to 2012. However, the value decreased by 33% from 2012 to 2017. The jump from 2017 to 2023 was 74%, and finally, the increase from 2023 to 2024 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 459%.

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. The median value for these streets is Rs 1,100 per sq.ft, placing Block 22 Sri Ranga Naicker Street's 2024 figure below that median.

• Block 22 S.K.C.Road: Rs 1,100 per sq.ft (2024)
• Block 22 Thanakodi Lay Out: Rs 771 per sq.ft (2024)
• Block 22 Vela Street: Rs 825 per sq.ft (2024)
• Block 22 Mulakarai: Rs 770 per sq.ft (2024)
• Block 22 Lakhman Street: Rs 770 per sq.ft (2024)
• Block 23 Deva Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Sri Ranga Naicker Street

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420. Together, the total cost would be Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 22 Sri Ranga Naicker Street?

The Sub Registrar Office that covers Block 22 Sri Ranga Naicker Street 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 crucial factor when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 22 Sri Ranga Naicker Street?

The current guideline value of Block 22 Sri Ranga Naicker Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 138 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 459% over the years.

What is the land classification for Block 22 Sri Ranga Naicker Street?

The land classification for Block 22 Sri Ranga Naicker Street is Residential Class II Type - III.

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

The Sub Registrar Office for Block 22 Sri Ranga Naicker Street 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 higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 7,71,000, the stamp duty at 7% would be Rs 53,970.