Guideline Value for Block 28 L.G.G.S.Colony 1,2,3

Block 28 L.G.G.S.Colony 1,2,3 guideline value

The current guideline value for Block 28 L.G.G.S.Colony 1,2,3 is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in the village of Erode Joint I SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Block 28 L.G.G.S.Colony 1,2,3 has changed

The guideline value for Block 28 L.G.G.S.Colony 1,2,3 has seen several revisions over the years. The earliest recorded value in 2002 was Rs 252 per sq.ft, which increased to Rs 285 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007 (+23%), followed by an increase to Rs 500 per sq.ft in 2012 (+43%). However, the value decreased to Rs 335 per sq.ft in 2017, reflecting a change of -33%. The guideline value then surged to Rs 700 per sq.ft in 2023 (+109%), and finally, it reached Rs 771 per sq.ft in the 2024 revision (+10%). The register has no figure for this street for the years not mentioned.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 28 L.G.G.S.Colony 1,2,3 is below this median.

• Block 28 Poondhurai Road: Rs 1,100 per sq.ft (2024)
• Block 28 Railway Colony Road: Rs 1,100 per sq.ft (2024)
• Block 28 Railway Station Road: Rs 771 per sq.ft (2024)
• Block 28 Gramadai Street 1 to 5: Rs 771 per sq.ft (2024)
• Block 28 Sathankaruku (or) Shanthikaruku 1 2 3: Rs 771 per sq.ft (2024)
• Block 28 Agathi Perumal Kovil Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 L.G.G.S.Colony 1,2,3

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 28 L.G.G.S.Colony 1,2,3?

The Sub Registrar Office that covers Block 28 L.G.G.S.Colony 1,2,3 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 E

The guideline value plays a crucial role during the registration of property transactions in Ward E. It is used to calculate the stamp duty and registration fees, which are mandatory for property transfers. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value is compared to the sale price to determine the applicable duties. The higher amount is used for calculating the stamp duty, ensuring that the registration process adheres to the established financial framework.

Frequently asked questions

What is the current guideline value for Block 28 L.G.G.S.Colony 1,2,3?

The current guideline value for Block 28 L.G.G.S.Colony 1,2,3 is Rs 771 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 252 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the median guideline value in Ward E?

The median guideline value in Ward E is Rs 825 per sq.ft, with Block 28 L.G.G.S.Colony 1,2,3's value being below this median.

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

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970, and the registration fee would be Rs 15,420, totaling Rs 69,390.

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

The Sub Registrar Office for Block 28 L.G.G.S.Colony 1,2,3 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.