Guideline Value for Block 8 ThiruNagarColony

Block 8 ThiruNagarColony guideline value

The current guideline value of Block 8 ThiruNagarColony is Rs 1,925 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Block 8 ThiruNagarColony has changed

The guideline value for Block 8 ThiruNagarColony has seen several revisions over the years. The 2007 revision set the value at Rs 750 per sq.ft, which increased to Rs 1,750 per sq.ft in 2012. However, this figure dropped to Rs 1,172 per sq.ft in 2017, before rising significantly to Rs 1,750 per sq.ft in 2023, and finally reaching Rs 1,925 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 marked a 10% increase. Notably, the overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 157%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ward C

In Ward C, there are 250 streets that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 8 ThiruNagarColony is above this median.

• Block 8 Subbaian Street: Rs 772 per sq.ft (2024)
• Block 8 Shagan Street: Rs 771 per sq.ft (2024)
• Block 8 Varadhappan Rd: Rs 770 per sq.ft (2024)
• Block 8 Veeran Street: Rs 770 per sq.ft (2024)
• Block 9 Kannian Street 1-3: Rs 1,100 per sq.ft (2024)
• Block 9 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 ThiruNagarColony

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, while the registration fee at 2% would be Rs 38,500, bringing the total cost together to Rs 1,73,250. 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 8 ThiruNagarColony?

The Sub Registrar Office that covers Block 8 ThiruNagarColony 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 during the registration of property transactions in Ward C. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in establishing a baseline for the transaction price. This ensures that both parties have a clear understanding of the financial obligations associated with the sale.

Frequently asked questions

What is the current guideline value of Block 8 ThiruNagarColony?

The current guideline value of Block 8 ThiruNagarColony is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 1,925 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the stamp duty rate for properties in Block 8 ThiruNagarColony?

The stamp duty rate for properties in Block 8 ThiruNagarColony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Block 8 ThiruNagarColony located?

The Sub Registrar Office for Block 8 ThiruNagarColony is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees applicable during property transactions. It serves as a baseline for the transaction price, ensuring clarity for both buyers and sellers.