Guideline Value for Block 4 State Bank Colony

Block 4 State Bank Colony guideline value

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

How the guideline value of Block 4 State Bank Colony has changed

The guideline value for Block 4 State Bank Colony has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 105 per sq.ft. This increased to Rs 518 per sq.ft in 2003, marking a significant rise of 393%. Following this, the value continued to increase, reaching Rs 750 per sq.ft in 2007, which was a 45% increase from the previous year. The value then rose to Rs 1,250 per sq.ft in 2012, reflecting a 67% increase from 2007. However, it decreased to Rs 837 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 1,250 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,375 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1210%.

Guideline values in Ward A

In Ward A, there are 111 streets that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with the median value being Rs 1,375 per sq.ft. Block 4 State Bank Colony's 2024 figure aligns with this median value.

• Block 4 R.K.Venkatasamy Nagar & Colony: Rs 1,375 per sq.ft (2024)
• Block 4 Pudhumai Colony: Rs 770 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 5 E.M.Balasubramaniam Road: Rs 1,100 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 4 State Bank 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 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 more details.

Which Sub Registrar Office covers Block 4 State Bank Colony?

The Sub Registrar Office that covers Block 4 State Bank 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Ward A. It serves as a reference point for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 4 State Bank Colony?

The current guideline value of Block 4 State Bank Colony is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, marking an overall increase of 1210%.

What is the land classification for Block 4 State Bank Colony?

Block 4 State Bank Colony is classified as Residential Class I Type - III.

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

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

How is stamp duty calculated for properties in Block 4 State Bank Colony?

Stamp duty for properties in Block 4 State Bank Colony is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value would incur a total fee of Rs 1,23,750.