Guideline Value for Block 28 Ward Road

Block 28 Ward Road guideline value

The current guideline value of Block 28 Ward Road is Rs 770 per sq.ft, effective from 1 July 2024. This property 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 28 Ward Road has changed

The guideline value for Block 28 Ward Road has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 266 per sq.ft. This figure increased to Rs 298 per sq.ft in 2003, marking a 12% rise. The value then saw a further increase to Rs 350 per sq.ft in 2007, which was a 17% change. In 2012, the value rose to Rs 500 per sq.ft, reflecting a 43% increase. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, a drop of 33%. The value then surged to Rs 700 per sq.ft in 2023, a significant increase of 109%. Finally, the current revision in 2024 set the guideline value at Rs 770 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 189%. There are no figures for any other revisions for this street.

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. The median value for these streets is Rs 798 per sq.ft, indicating that Block 28 Ward Road's 2024 figure is below this median.

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

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 fees together to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Block 28 Ward Road?

The Sub Registrar Office that covers Block 28 Ward Road 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 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 applicable to the property being bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Block 28 Ward Road?

The current guideline value of Block 28 Ward Road 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 from Rs 266 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of 189% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 69,300, which includes stamp duty and registration fees.

Which office handles the registration for Block 28 Ward Road?

The registration for Block 28 Ward Road is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 28 Ward Road?

Block 28 Ward Road is classified as Residential Class III Type - I, which is important for understanding the applicable regulations and uses for the property.