Guideline Value for Block 3 Ramasamy Street

Block 3 Ramasamy Street guideline value

The current guideline value of Block 3 Ramasamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Block 3 Ramasamy Street has changed

The guideline value for Block 3 Ramasamy Street has undergone several revisions over the years. In 2002, the value was Rs 844 per sq.ft, which increased to Rs 946 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 1,250 per sq.ft in 2007, reflecting a 32% change. In 2012, the value was Rs 1,500 per sq.ft, which was a 20% increase from the previous revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, indicating a decrease of 33%. The guideline value rose again to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,650 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 95%. The register does not have figures for any other years for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 1,100 per sq.ft, placing the 2024 figure for Block 3 Ramasamy Street above this median.

• Block 3 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 3 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 3 Muthukaruppa Street: Rs 1,650 per sq.ft (2024)
• Block 3 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 4 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 3 E V N Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Ramasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 3 Ramasamy Street?

The Sub Registrar Office covering Block 3 Ramasamy Street 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 additional assistance.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Block 3 Ramasamy Street?

The current guideline value of Block 3 Ramasamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 844 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 95% over the years.

What is the registration office for Block 3 Ramasamy Street?

The registration office for Block 3 Ramasamy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find more information about stamp duty and registration fees?

For additional information regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.