Guideline Value for Block 23 S.K.C.Road T.S.59

Block 23 S.K.C.Road T.S.59 guideline value

The current guideline value of Block 23 S.K.C.Road T.S.59 is Rs 1,100 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 - I.

How the guideline value of Block 23 S.K.C.Road T.S.59 has changed

The guideline value for Block 23 S.K.C.Road T.S.59 has seen several revisions over the years. In 2002, the value was Rs 258 per sq.ft, which increased to Rs 290 per sq.ft in 2003, marking a 12% rise. The value continued to grow, reaching Rs 400 per sq.ft in 2007, a significant increase of 38%. By 2012, the value rose to Rs 1,000 per sq.ft, reflecting a 150% increase from the previous revision. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33% from 2012. The value then increased again to Rs 1,000 per sq.ft in 2023, followed by a further rise to Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 326%. It is important to note that there are no figures available for revisions in the years not listed in the register for this street.

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, which is equal to the 2024 figure for Block 23 S.K.C.Road T.S.59.

• Block 23 ThanaKodi Lay Out: Rs 771 per sq.ft (2024)
• Block 23 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 24 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)
• Block 24 Giramadai: Rs 770 per sq.ft (2024)
• Block 24 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 23 Karuppana Samy Kovil Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 S.K.C.Road T.S.59

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 23 S.K.C.Road T.S.59?

The Sub Registrar Office covering Block 23 S.K.C.Road T.S.59 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 B

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 23 S.K.C.Road T.S.59?

The current guideline value for Block 23 S.K.C.Road T.S.59 is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 258 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 326% over the years.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, which is calculated based on the higher of the guideline value or the sale price.

What is the registration fee for properties in Block 23 S.K.C.Road T.S.59?

The registration fee for properties in Block 23 S.K.C.Road T.S.59 is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this property?

The Sub Registrar Office for Block 23 S.K.C.Road T.S.59 is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.