Guideline Value for Block 29 Railway Colony

Block 29 Railway Colony guideline value

The current guideline value for Block 29 Railway Colony is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 29 Railway Colony has changed

The guideline value for Block 29 Railway Colony has seen several revisions over the years. In 2002, the value was Rs 288 per sq.ft, which increased to Rs 326 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 400 per sq.ft in 2007, a 23% increase, followed by a further increase to Rs 500 per sq.ft in 2012, which was a 25% rise. However, the value decreased to Rs 335 per sq.ft in 2017, reflecting a decline of 33% from the previous revision. The value then climbed to Rs 700 per sq.ft in 2023, representing a significant increase of 109% over the five years. The latest revision in 2024 has set the value at Rs 771 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 168%. There are no figures available for revisions in years not mentioned in the register.

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 29 Railway Colony is below this median.

• Block 29 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 29 Nethaji Road: Rs 1,375 per sq.ft (2024)
• Block 29 L.G.G.S Colony: Rs 771 per sq.ft (2024)
• Block 2 Chidambaram colony: Rs 1,925 per sq.ft (2024)
• Block 2 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)
• Block 29 Alamarathu Huts: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 29 Railway Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, while the registration fee at 2% would be Rs 15,420, bringing the total fees together to Rs 69,390. 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 29 Railway Colony?

The Sub Registrar Office that covers Block 29 Railway Colony 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 E

The guideline value is a crucial factor when registering property transactions in Ward E. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the guideline value helps determine the legal obligations for payment of taxes and fees. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Block 29 Railway Colony?

The current guideline value for Block 29 Railway Colony is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 288 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 168% over this period.

What is the land classification for Block 29 Railway Colony?

Block 29 Railway Colony is classified as Residential Class III Type - I.

Where can I find the registration office for Block 29 Railway Colony?

The registration office for Block 29 Railway Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Block 29 Railway Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 53,970.