Guideline Value for Block 33 Ramasamy Street

Block 33 Ramasamy Street guideline value

The current guideline value of Block 33 Ramasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 33 Ramasamy Street has changed

The guideline value for Block 33 Ramasamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 574 per sq.ft. This increased to Rs 643 per sq.ft in 2003, marking a 12% rise. The value continued to increase, reaching Rs 750 per sq.ft in 2007, which was a 17% increase from the previous revision. By 2012, the value had risen to Rs 1,000 per sq.ft, reflecting a 33% decrease from the 2007 figure.

In 2017, the guideline value was Rs 670 per sq.ft, which was a 49% increase from the 2012 revision. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 92%. There are no revisions with figures missing for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 33 Ramasamy Street's 2024 figure below this median.

• Block 33 N.M.S. Lay out: Rs 2,200 per sq.ft (2024)
• Block 33 Sathy (or) Veerapathira Road: Rs 2,750 per sq.ft (2024)
• Block 33 N.M.S.Compound: Rs 2,200 per sq.ft (2024)
• Block 33 Sengoda Street Lane: Rs 1,100 per sq.ft (2024)
• Block 33 Easwaran Kovil Street Lane: Rs 1,925 per sq.ft (2024)
• Block 33 Sokkanatha Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 33 Ramasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Block 33 Ramasamy Street?

The Sub Registrar Office that covers Block 33 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in this area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Block 33 Ramasamy Street?

The current guideline value of Block 33 Ramasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 574 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 92% over this period.

What is the classification of the land on Block 33 Ramasamy Street?

Block 33 Ramasamy Street is classified as Residential Class II Type - I.

Where can I find the Erode Joint I SRO?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Block 33 Ramasamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.