Guideline Value for Block 5 Thirunagar Colony

Block 5 Thirunagar Colony guideline value

The current guideline value of Block 5 Thirunagar Colony, located in Ward A village under the Erode Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Block 5 Thirunagar Colony has changed

The guideline value for Block 5 Thirunagar Colony has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This figure increased to Rs 518 per sq.ft in 2003, marking a significant rise of 393%. The value continued to grow, reaching Rs 750 per sq.ft in 2007, which was a 45% increase. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 167% from the previous revision. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 2,000 per sq.ft, and then further increased by 10% to the current value of Rs 2,200 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1995%.

Guideline values in Ward A

In Ward A, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as per the 2024 revision, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 5 Thirunagar Colony is above this median.

• Block 5 Thirunagar Colony Road No.1,2: Rs 2,200 per sq.ft (2024)
• Block 6 Chinnappalayout: Rs 825 per sq.ft (2024)
• Block 6 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)
• Block 5 E.M.Balasubramaniam Road: Rs 1,100 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Pillai Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 4 State Bank Colony: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 5 Thirunagar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Block 5 Thirunagar Colony?

The Sub Registrar Office that covers Block 5 Thirunagar Colony 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 A

The guideline value is a critical factor in the registration process when buying or selling property in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Block 5 Thirunagar Colony?

The current guideline value of Block 5 Thirunagar Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 105 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1995% over the years.

What is the land classification for Block 5 Thirunagar Colony?

The land classification for Block 5 Thirunagar Colony is Residential Special Type - I.

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

The Sub Registrar Office for Block 5 Thirunagar Colony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.