Guideline Value for Block 7 Park Road

Block 7 Park Road guideline value

The current guideline value of Block 7 Park Road is Rs 2,750 per sq.ft. This street is located in Ward A village under the Erode Joint I SRO, and it is classified as Commercial Class I Type - III.

How the guideline value of Block 7 Park Road has changed

The guideline value for Block 7 Park Road has seen several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased to Rs 557 per sq.ft in 2003, marking a significant rise of 430%. The value continued to increase to Rs 1,750 per sq.ft in 2007, representing a 214% jump. However, from 2007 to 2012, the value decreased to Rs 2,500 per sq.ft, a decline of 33%. The value then rose again to Rs 1,675 per sq.ft in 2017, which was a 49% increase from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,750 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,519%. There are no figures available for other years for this street in the register.

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 a median value of Rs 1,375 per sq.ft. The guideline value for Block 7 Park Road is above this median.

• Block 7 Sambal Kadu: Rs 771 per sq.ft (2024)
• Block 7 Thirunagar Colony Road No.1,2: Rs 2,200 per sq.ft (2024)
• Block 7 K.N.Kuppusamy Main Road: Rs 1,100 per sq.ft (2024)
• Block 8 A.P.Thangavel Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 7 Bhavani Road (or) A.P.Thangavel Road: Rs 2,750 per sq.ft (2024)
• Block 6 Thirunagar Colony Road 1,2: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Park Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Park Road?

The Sub Registrar Office that covers Block 7 Park Road 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 details.

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

The guideline value is a crucial factor when it comes to the registration of property in Ward A. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes during the transaction.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process. Buyers and sellers need to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 7 Park Road?

The current guideline value of Block 7 Park Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 105 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 2,519%.

What is the classification of Block 7 Park Road?

Block 7 Park Road is classified as Commercial Class I Type - III, which indicates its intended use for commercial purposes.

What are the stamp duty and registration fees for property in Block 7 Park Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Where is the Sub Registrar Office for Block 7 Park Road located?

The Sub Registrar Office for Block 7 Park Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.