Guideline Value for Block 4 R.K.Venkatasamy Nagar & Colony

Block 4 R.K.Venkatasamy Nagar & Colony guideline value

The current guideline value for Block 4 R.K.Venkatasamy Nagar & Colony is Rs 1,375 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 4 R.K.Venkatasamy Nagar & Colony has changed

The guideline value for Block 4 R.K.Venkatasamy Nagar & Colony has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 105 per sq.ft. This increased to Rs 520 per sq.ft in 2003, marking a significant rise of 395%. The value continued to increase, reaching Rs 750 per sq.ft in 2007, which was a 44% increase from the previous revision. In 2012, the value adjusted to Rs 1,250 per sq.ft, reflecting a decrease of 33% from 2017's Rs 837 per sq.ft. The 2023 revision set the value at Rs 1,250 per sq.ft, before the latest increase to Rs 1,375 per sq.ft in 2024, which is a 10% rise.

Overall, the guideline value has increased by 1,210% from 2002 to 2024. The revisions for the years 2017 and 2023 reflect the most recent changes, with the 2024 figure now equal to the median value for the 111 streets in Ward A under the Erode Joint I SRO.

Guideline values in Ward A

In Ward A, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as of 2024, with the median value being Rs 1,375 per sq.ft. The guideline value for Block 4 R.K.Venkatasamy Nagar & Colony matches this median. Below are other streets in Ward A:

• Block 4 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 4 State Bank Colony: Rs 1,375 per sq.ft (2024)
• Block 4 Madhavakadu: Rs 771 per sq.ft (2024)
• Block 4 Krishnampalayam Road 1,2.3: Rs 1,375 per sq.ft (2024)
• Block 4 Chinnappa Layout 1 & 2: Rs 770 per sq.ft (2024)
• Block 5 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 R.K.Venkatasamy Nagar & Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total fees to Rs 1,23,750. It is important to note that 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 4 R.K.Venkatasamy Nagar & Colony?

The Sub Registrar Office that covers Block 4 R.K.Venkatasamy Nagar & Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers have a clear understanding of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value for Block 4 R.K.Venkatasamy Nagar & Colony?

The current guideline value for Block 4 R.K.Venkatasamy Nagar & Colony is Rs 1,375 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 105 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, showing an overall increase of 1,210% over this period.

What is the land classification for this area?

Block 4 R.K.Venkatasamy Nagar & Colony is classified as Residential Class I Type - III.

What are the stamp duty rates applicable?

The stamp duty rate is 7% on the guideline value or sale price, whichever is higher, while the registration fee is 2%.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 4 R.K.Venkatasamy Nagar & Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.