Guideline Value for Block 4 Parasuraman Lane

Block 4 Parasuraman Lane guideline value

The current guideline value of Block 4 Parasuraman Lane 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, classified as Residential Class III Type - I.

How the guideline value of Block 4 Parasuraman Lane has changed

The guideline value for Block 4 Parasuraman Lane has seen several revisions over the years. In 2002, the value was Rs 144 per sq.ft, which increased to Rs 162 per sq.ft in 2003, marking a 13% rise. The value then rose significantly to Rs 250 per sq.ft in 2007, reflecting a 54% increase. By 2012, the value reached Rs 500 per sq.ft, showing a 100% increase from the previous revision. However, it decreased to Rs 335 per sq.ft in 2017, indicating a decline of 33%.

In the subsequent years, the guideline value experienced substantial growth. The value increased to Rs 700 per sq.ft in 2023, which was a 109% rise from the 2017 figure. The most recent revision in 2024 set the value at Rs 770 per sq.ft, a 10% increase from the previous year. There are no figures available for revisions other than those listed 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, with a median value of Rs 798 per sq.ft. The guideline value for Block 4 Parasuraman Lane is below this median.

• Block 4 Palani Lane: Rs 770 per sq.ft (2024)
• Block 4 Madurai Veran Kovil Sandhu: Rs 770 per sq.ft (2024)
• Block 4 Sekkizhar Street: Rs 770 per sq.ft (2024)
• Block 4 Kumanan Street: Rs 770 per sq.ft (2024)
• Block 4 Thoppai ya Lane: Rs 770 per sq.ft (2024)
• Block 4 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Parasuraman Lane

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

Which Sub Registrar Office covers Block 4 Parasuraman Lane?

The Sub Registrar Office that covers Block 4 Parasuraman Lane 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 in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Block 4 Parasuraman Lane?

The current guideline value of Block 4 Parasuraman Lane 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 144 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 435% over the years.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Block 4 Parasuraman Lane?

The Erode Joint I Sub Registrar Office handles the registration for Block 4 Parasuraman Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 4 Parasuraman Lane?

Block 4 Parasuraman Lane is classified as Residential Class III Type - I under the Erode Joint I SRO.