Guideline Value for Block 26 Balusamy Street

Block 26 Balusamy Street guideline value

The current guideline value for Block 26 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 26 Balusamy Street has changed

The guideline value for Block 26 Balusamy Street has seen several revisions over the years. In 2003, the value was Rs 272 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. The most recent revisions show a significant increase, with the value jumping to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 109%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced an increase of 43%. Overall, from 2003 to 2024, the guideline value has increased by 183%. The register has no figure for this street in 2002.

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, with a median value of Rs 798 per sq.ft. The guideline value for Block 26 Balusamy Street is below this median.

• Block 26 Iyannarappan Street: Rs 1,100 per sq.ft (2024)
• Block 25 V.V.C.R. Lay-out 1 2 3: Rs 771 per sq.ft (2024)
• Block 26 Jayaram Sandhu: Rs 770 per sq.ft (2024)
• Block 25 Venkata Perumal Street: Rs 825 per sq.ft (2024)
• Block 26 Kamatchi Kadu: Rs 770 per sq.ft (2024)
• Block 26 Kuppipalam Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 26 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, bringing the total fees to Rs 69,300. It is important to 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 information.

Which Sub Registrar Office covers Block 26 Balusamy Street?

The Sub Registrar Office that covers Block 26 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 for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 26 Balusamy Street?

The current guideline value for Block 26 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 272 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 183% over the years.

What is the classification of Block 26 Balusamy Street?

Block 26 Balusamy Street is classified as Residential Class III Type - I, indicating its zoning for residential use.

Where can I find the registration office for this area?

The registration office for Block 26 Balusamy 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 stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.