Guideline Value for Block 7 Rajaji Street (Puram)

Block 7 Rajaji Street (Puram) guideline value

The current guideline value for Block 7 Rajaji Street (Puram) 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 and falls under the Residential Class III Type - II land classification.

How the guideline value of Block 7 Rajaji Street (Puram) has changed

The guideline value for Block 7 Rajaji Street (Puram) has undergone several revisions since 2002. The values are as follows: in 2002, the guideline value was Rs 109 per sq.ft, which increased to Rs 123 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, it saw a decrease to Rs 335 per sq.ft in 2017. The value then increased to Rs 700 per sq.ft in 2023, culminating in the current value of Rs 770 per sq.ft in 2024.

Between these revisions, there were notable changes. From 2017 to 2023, the guideline value increased by 109%. The 2012 to 2017 period saw a decrease of 33%, while the value rose by 150% from 2007 to 2012. From 2003 to 2007, the increase was 63%, and from 2002 to 2003, it rose by 13%. Overall, from 2002 to 2024, the guideline value has increased by 606%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 7 Rajaji Street (Puram) below this median.

• Block 7 Sagansaibu Street: Rs 771 per sq.ft (2024)
• Block 7 Varathappan Street: Rs 770 per sq.ft (2024)
• Block 7 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)
• Block 7 Ganapathipuram Part 2: Rs 825 per sq.ft (2024)
• Block 8 Gandhipuram Huts: Rs 770 per sq.ft (2024)
• Block 7 Cauvery Road Main Road Part 3: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Rajaji Street (Puram)

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, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Rajaji Street (Puram)?

The Sub Registrar Office that covers Block 7 Rajaji Street (Puram) 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 C

The guideline value plays a crucial role during the registration of property transactions in Ward C. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Proper understanding of these values can help in budgeting for additional expenses associated with property registration.

Frequently asked questions

What is the current guideline value of Block 7 Rajaji Street (Puram)?

The current guideline value of Block 7 Rajaji Street (Puram) 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 significantly from Rs 109 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 606% over this period.

What is the stamp duty for a property in Block 7 Rajaji Street (Puram)?

The stamp duty for a property in Block 7 Rajaji Street (Puram) is 7% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would be Rs 53,900.

Where can I find the Sub Registrar Office for Block 7 Rajaji Street (Puram)?

The Sub Registrar Office for Block 7 Rajaji Street (Puram) is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 7 Rajaji Street (Puram)?

Block 7 Rajaji Street (Puram) is classified under Residential Class III Type - II, indicating its suitability for residential purposes.