Guideline Value for Block 23 ThanaKodi Lay Out

Block 23 ThanaKodi Lay Out guideline value

The current guideline value of Block 23 ThanaKodi Lay Out is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward B village, under the Erode Joint I SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Block 23 ThanaKodi Lay Out has changed

The guideline value for Block 23 ThanaKodi Lay Out has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 205 per sq.ft. This increased to Rs 250 per sq.ft in 2007, followed by a significant jump to Rs 600 per sq.ft in 2012. However, between 2012 and 2017, the value dropped to Rs 402 per sq.ft. The value then rose sharply to Rs 700 per sq.ft in 2023, and currently stands at Rs 771 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 276%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with 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, indicating that Block 23 ThanaKodi Lay Out's current rate is below this median.

• Block 23 S.K.C.Road T.S.59: Rs 1,100 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 ThanaKodi Lay Out

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees to Rs 69,390. It is important to note that 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 details.

Which Sub Registrar Office covers Block 23 ThanaKodi Lay Out?

The Sub Registrar Office that covers Block 23 ThanaKodi Lay Out 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 B

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

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is crucial for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Block 23 ThanaKodi Lay Out?

The current guideline value of Block 23 ThanaKodi Lay Out 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 205 per sq.ft in 2003 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 276% over the period.

What is the stamp duty rate for properties in Block 23 ThanaKodi Lay Out?

The stamp duty rate for properties in Block 23 ThanaKodi Lay Out is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Block 23 ThanaKodi Lay Out is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

Are there other streets with similar guideline values in Ward B?

Yes, there are several other streets in Ward B with guideline values close to that of Block 23 ThanaKodi Lay Out, including Block 23 Rajarathinam Street at Rs 770 per sq.ft and Block 24 Karuppanasamy Kovil Street at Rs 771 per sq.ft.