Guideline Value for Block 24 Rajarathinam St

Block 24 Rajarathinam St guideline value

The current guideline value of Block 24 Rajarathinam St is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 24 Rajarathinam St has changed

The guideline value for Block 24 Rajarathinam St has undergone several revisions over the years. In 2003, the value was Rs 270 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following that, the value rose to Rs 500 per sq.ft in 2012, but then saw a decrease to Rs 335 per sq.ft in 2017. The most recent revisions show a significant increase, with the value rising to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 185%.

It is important to note that there is no figure available for the year 2002 for this street. The changes between the revisions illustrate the fluctuations in the guideline value, with the most notable increase occurring between 2017 and 2023, where the value jumped by 109%.

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 24 Rajarathinam St below this median.

• Block 24 Santhankarukku Street: Rs 771 per sq.ft (2024)
• Block 24 S.K.Chenniappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 24 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 24 Giramadai: Rs 770 per sq.ft (2024)
• Block 25 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)
• Block 24 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Rajarathinam St

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 24 Rajarathinam St?

The Sub Registrar Office that covers Block 24 Rajarathinam St is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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 is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the buyer and seller must adhere to the guideline value set by the registration department. This value serves as a benchmark for calculating the financial obligations associated with the property transaction, including taxes and fees that are mandatory at the time of registration.

Frequently asked questions

What is the current guideline value of Block 24 Rajarathinam St?

The current guideline value of Block 24 Rajarathinam St is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 270 per sq.ft in 2003 and rising to Rs 770 per sq.ft in 2024, which is an overall increase of 185% over the years.

What is the stamp duty for property in Block 24 Rajarathinam St?

The stamp duty for property in Block 24 Rajarathinam St is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 53,900.

Where is the Sub Registrar Office for Block 24 Rajarathinam St located?

The Sub Registrar Office for Block 24 Rajarathinam St is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees applicable during a property transaction. It serves as a benchmark for the financial obligations associated with buying or selling property.