Guideline Value for Block 28 Thuruva Lane

Block 28 Thuruva Lane guideline value

The current guideline value for Block 28 Thuruva Lane is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 28 Thuruva Lane has changed

The guideline value for Block 28 Thuruva Lane has seen several revisions over the years. In 2002, the value was Rs 296 per sq.ft, which increased to Rs 333 per sq.ft in 2003, marking a 13% rise. The value then saw a further increase to Rs 400 per sq.ft in 2007, which was a 20% change. By 2012, the guideline value rose to Rs 750 per sq.ft, reflecting an 88% increase from the previous revision. However, this figure dropped to Rs 502 per sq.ft in 2017, which was a decrease of 33% from 2012.

From 2017 to 2023, the guideline value increased significantly to Rs 750 per sq.ft, showing a 49% rise. The most recent revision in 2024 set the value at Rs 825 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 179%.

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 28 Thuruva Lane is above this median.

• Block 28 Valaiyakara Street: Rs 1,100 per sq.ft (2024)
• Block 28 Ward Road: Rs 770 per sq.ft (2024)
• Block 29 Agrahara Street: Rs 825 per sq.ft (2024)
• Block 28 SathiyaMoorthy Theru: Rs 1,100 per sq.ft (2024)
• Block 29 Chokkalingam Street: Rs 825 per sq.ft (2024)
• Block 29 Cutcheri Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Thuruva Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees together to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 28 Thuruva Lane?

The Sub Registrar Office that covers Block 28 Thuruva Lane 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 when registering property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 28 Thuruva Lane?

The current guideline value for Block 28 Thuruva Lane is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 296 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 179% over the years.

What is the land classification for Block 28 Thuruva Lane?

Block 28 Thuruva Lane falls under the Residential Class II Type - II land classification.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles registrations for Block 28 Thuruva Lane?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 28 Thuruva Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.