Guideline Value for Block 3 Pudhumai Colony

Block 3 Pudhumai Colony guideline value

The current guideline value of Block 3 Pudhumai Colony is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 3 Pudhumai Colony has changed

The guideline value for Block 3 Pudhumai Colony has seen significant changes over the years. Starting from Rs 105 per sq.ft in 2002, it increased to Rs 148 per sq.ft in 2003, marking a rise of 41%. The value then continued to rise to Rs 250 per sq.ft in 2007, which was a 69% increase. Following this, the value reached Rs 400 per sq.ft in 2012, reflecting a 60% increase. However, it decreased to Rs 335 per sq.ft in 2017, showing a decline of 16%. The most notable change occurred between 2017 and 2023, where the value surged to Rs 700 per sq.ft, representing a remarkable 109% increase. As of the latest revision in 2024, the guideline value stands at Rs 770 per sq.ft, a 10% increase from the previous year.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 3 Pudhumai Colony's 2024 figure below this median.

• Block 3 Samiyappa Street Main Road: Rs 1,100 per sq.ft (2024)
• Block 3 Thirunagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 3 Chinnappa Layout Huts: Rs 770 per sq.ft (2024)
• Block 3 Chinnappa Layout 1 2: Rs 825 per sq.ft (2024)
• Block 4 Chinnappa Layout 1 & 2: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Pudhumai Colony

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 to Rs 69,300. 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 details.

Which Sub Registrar Office covers Block 3 Pudhumai Colony?

The Sub Registrar Office that covers Block 3 Pudhumai 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Block 3 Pudhumai Colony?

The current guideline value of Block 3 Pudhumai Colony 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 significantly, increasing from Rs 105 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, which is an overall increase of 633%.

What is the stamp duty rate for properties in Block 3 Pudhumai Colony?

The stamp duty rate for properties in Block 3 Pudhumai Colony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 3 Pudhumai Colony located?

The Sub Registrar Office for Block 3 Pudhumai Colony is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What other streets are in Ward A with guideline values?

Other streets in Ward A include Block 3 Samiyappa Street Main Road at Rs 1,100 per sq.ft, Block 3 Thirunagar Colony at Rs 2,200 per sq.ft, and several others, with the lowest being Block 3 Pudhumai Colony at Rs 770 per sq.ft.