Guideline Value for Block 28 Rajarathinam Street

Block 28 Rajarathinam Street guideline value

The current guideline value for Block 28 Rajarathinam Street 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 28 Rajarathinam Street has changed

The guideline value for Block 28 Rajarathinam Street has undergone several revisions over the years. In 2002, the value was Rs 172 per sq.ft. This increased to Rs 193 per sq.ft in 2003, marking a 12% rise. The value then saw a further increase of 30% to reach Rs 250 per sq.ft in 2007. By 2012, the value was revised to Rs 500 per sq.ft, reflecting a 100% increase from the previous revision. However, there was a decrease of 33% in 2017, bringing the value down to Rs 335 per sq.ft.

In 2023, the guideline value rose to Rs 700 per sq.ft, which was a significant increase of 109% from the 2017 figure. The most recent revision in 2024 set the value at Rs 770 per sq.ft, representing a 10% increase from the previous year. The register has no figures for this street for the years not listed above.

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, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 28 Rajarathinam Street is below this median.

• Block 28 Santhankarukku: Rs 771 per sq.ft (2024)
• Block 28 Manal medu Street: Rs 771 per sq.ft (2024)
• Block 28 Keeramadai 7: Rs 770 per sq.ft (2024)
• Block 28 Gramadai 1 to 5: Rs 771 per sq.ft (2024)
• Block 28 Dhanakodi Layout: Rs 771 per sq.ft (2024)
• Block 29 Chennimalai Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Rajarathinam 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 amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that 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 details.

Which Sub Registrar Office covers Block 28 Rajarathinam Street?

The Sub Registrar Office that covers Block 28 Rajarathinam Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value for Block 28 Rajarathinam Street?

The current guideline value for Block 28 Rajarathinam 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 seen several revisions, increasing from Rs 172 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, marking an overall increase of 348% over the years.

What is the classification of land for Block 28 Rajarathinam Street?

Block 28 Rajarathinam Street is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

Where is the Sub Registrar Office located for this street?

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

How is stamp duty calculated for properties in Block 28 Rajarathinam Street?

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