Guideline Value for Block 25 Balusamy Street

Block 25 Balusamy Street guideline value

The current guideline value of Block 25 Balusamy 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 25 Balusamy Street has changed

The guideline value for Block 25 Balusamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 243 per sq.ft. This increased to Rs 272 per sq.ft in 2003, marking a change of +12%. The value continued to rise to Rs 350 per sq.ft in 2007, which was a +29% increase. By 2012, the value reached Rs 500 per sq.ft, representing a +43% change. However, there was a decline to Rs 335 per sq.ft in 2017, which was a -33% change. The most significant increase occurred between 2017 and 2023, where the value jumped to Rs 700 per sq.ft, representing a +109% change. The latest revision in 2024 has set the value at Rs 770 per sq.ft, reflecting a +10% increase from the previous year.

There are no figures available for revisions in the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +217%.

Guideline values in Ward D

In Ward D, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as of 2024, with a median value of Rs 798 per sq.ft. The guideline value for Block 25 Balusamy Street is below this median.

• Block 25 Chella Batsha Street: Rs 1,375 per sq.ft (2024)
• Block 25 Ayyanarappan Kovil Street 1,2: Rs 1,100 per sq.ft (2024)
• Block 24 Valaiyakkara Street: Rs 1,100 per sq.ft (2024)
• Block 24 Sathiyamoorthy Street: Rs 1,100 per sq.ft (2024)
• Block 24 Rangasamy Lane (Street): Rs 770 per sq.ft (2024)
• Block 25 Keerakara Street (or) Marimuthu Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 Balusamy Street

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 be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 25 Balusamy Street?

The Sub Registrar Office that covers Block 25 Balusamy 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 online.

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

The guideline value is a crucial factor when buying or selling property in Ward D. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will assess the guideline value to calculate applicable fees. It is essential for buyers and sellers to understand this process to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 25 Balusamy Street?

The current guideline value of Block 25 Balusamy 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 significantly from Rs 243 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +217%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Block 25 Balusamy Street?

The Erode Joint I Sub Registrar Office handles property registrations for Block 25 Balusamy Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties in Ward D?

The guideline value is determined by the Registration Department's guideline value register and is used to calculate stamp duty and registration fees during property transactions.