Guideline Value for Block 24 Rangasamy Lane (Street)

Block 24 Rangasamy Lane (Street) guideline value

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

How the guideline value of Block 24 Rangasamy Lane (Street) has changed

The guideline value for Block 24 Rangasamy Lane (Street) has seen several revisions over the years. In 2002, the guideline value was Rs 214 per sq.ft, which increased to Rs 240 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 350 per sq.ft in 2007, reflecting a 46% increase. By 2012, the value was Rs 500 per sq.ft, showing a 43% increase from the previous revision. However, from 2012 to 2017, the guideline value decreased to Rs 335 per sq.ft, indicating a 33% drop. The value significantly increased to Rs 700 per sq.ft in 2023, a rise of 109%, and finally reached Rs 770 per sq.ft in the 2024 revision, marking a 10% increase.

There are no figures available for the revisions in years other than those specified. The overall change from 2002 to 2024 shows an increase of 260% in the guideline value.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 798 per sq.ft, placing Block 24 Rangasamy Lane (Street) below that median.

• Block 24 Sathiyamoorthy Street: Rs 1,100 per sq.ft (2024)
• Block 24 Valaiyakkara Street: Rs 1,100 per sq.ft (2024)
• Block 25 Ayyanarappan Kovil Street 1,2: Rs 1,100 per sq.ft (2024)
• Block 24 Kuppipalam Road: Rs 771 per sq.ft (2024)
• Block 25 Balusamy Street: Rs 770 per sq.ft (2024)
• Block 25 Chella Batsha Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Rangasamy Lane (Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. 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 detailed calculations.

Which Sub Registrar Office covers Block 24 Rangasamy Lane (Street)?

The Sub Registrar Office that covers Block 24 Rangasamy Lane (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 more information.

How the guideline value is used when you buy or sell in Ward D

The guideline value is a crucial factor in the registration process for property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps in assessing the fair price for the transaction. Buyers and sellers must consider this value, as the stamp duty is calculated on the higher of the guideline value or the sale price, which is essential for accurate financial planning during the transaction.

Frequently asked questions

What is the current guideline value of Block 24 Rangasamy Lane (Street)?

The current guideline value of Block 24 Rangasamy Lane (Street) 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 from Rs 214 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 260% over the years.

What is the stamp duty rate for property in Block 24 Rangasamy Lane (Street)?

The stamp duty rate for property transactions in Block 24 Rangasamy Lane (Street) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 24 Rangasamy Lane (Street)?

The Sub Registrar Office for Block 24 Rangasamy Lane (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 guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions. The stamp duty and registration fees are calculated based on this value, ensuring compliance with government regulations during the sale or purchase of property.