Guideline Value for Block 6 Ranga Street

Block 6 Ranga Street guideline value

The current guideline value of Block 6 Ranga Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class III Type - II.

How the guideline value of Block 6 Ranga Street has changed

The guideline value for Block 6 Ranga Street has undergone several revisions over the years. Starting from Rs 131 per sq.ft in 2002, it increased to Rs 147 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 200 per sq.ft in 2007 (+36%), followed by a significant increase to Rs 500 per sq.ft in 2012 (+150%). However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, reflecting a change of -33%. The guideline value then surged to Rs 700 per sq.ft in 2023 (+109%) before reaching the current figure of Rs 770 per sq.ft in 2024, an increase of +10%.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of +488% in the guideline value.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with the 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 6 Ranga Street's 2024 figure below that median.

• Block 6 PoonKundranar St: Rs 825 per sq.ft (2024)
• Block 6 Pillaiyar Kovil Street 1,2: Rs 771 per sq.ft (2024)
• Block 6 Veeraboyan Street: Rs 770 per sq.ft (2024)
• Block 6 Vinayagar Kovil Street: Rs 772 per sq.ft (2024)
• Block 6 Krishnampalayam Road: Rs 825 per sq.ft (2024)
• Block 6 K.N.Kuppusamy Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 6 Ranga Street

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, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these 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 6 Ranga Street?

The Sub Registrar Office that covers Block 6 Ranga 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 plays a crucial role in the registration process when buying or selling property in Ward C. 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 registered, the guideline value is considered to ensure that the appropriate taxes are levied. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Block 6 Ranga Street?

The current guideline value of Block 6 Ranga Street 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 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +488% over the years.

What is the land classification for Block 6 Ranga Street?

Block 6 Ranga Street is classified as Residential Class III Type - II.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where can I find the Sub Registrar Office for Block 6 Ranga Street?

The Sub Registrar Office for Block 6 Ranga Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.