Guideline Value for Block 23 Thiru V.K.Road

Block 23 Thiru V.K.Road guideline value

The current guideline value for Block 23 Thiru V.K.Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 23 Thiru V.K.Road has changed

The guideline value for Block 23 Thiru V.K.Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft. It increased significantly to Rs 420 per sq.ft in 2003, marking a 300% rise. The value then rose to Rs 500 per sq.ft in 2007, an increase of 19%. In 2012, the value was revised to Rs 1,000 per sq.ft, which was a 100% increase from the previous figure. However, it decreased to Rs 670 per sq.ft in 2017, representing a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 948%. There are no figures for any other years in the register for this street.

Guideline values in Ward A

In Ward A, there are 111 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 of Rs 1,375 per sq.ft. The guideline value for Block 23 Thiru V.K.Road is below this median.

• Block 24 Chinnamuthu Street (Main Road)1st Part: Rs 1,650 per sq.ft (2024)
• Block 23 Pappathi Kadu: Rs 771 per sq.ft (2024)
• Block 24 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 23 Krishnasamy Street: Rs 825 per sq.ft (2024)
• Block 23 Chinnamuthu Street 3 Main Road: Rs 1,100 per sq.ft (2024)
• Block 25 Chinnamuthu Street Main Road 1st Part: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Thiru V.K.Road

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 23 Thiru V.K.Road?

The Sub Registrar Office that covers Block 23 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

The guideline value is an essential factor when buying or selling property in Ward A. It serves as the basis for calculating the stamp duty and registration fees during the transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When registering a property, the guideline value is used to determine the minimum value on which stamp duty is calculated. This means that the final sale price cannot be lower than the guideline value, ensuring that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 23 Thiru V.K.Road?

The current guideline value for Block 23 Thiru V.K.Road 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 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 948% across the revisions.

What is the land classification for Block 23 Thiru V.K.Road?

Block 23 Thiru V.K.Road is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 23 Thiru V.K.Road is the Erode Joint I Sub Registrar Office, 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. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.