Guideline Value for Block 9 R K V Nagar

Block 9 R K V Nagar guideline value

The current guideline value of Block 9 R K V Nagar is Rs 1,375 per sq.ft, effective from 1 July 2024. This area is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Block 9 R K V Nagar has changed

The guideline value for Block 9 R K V Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 417 per sq.ft. This value increased to Rs 750 per sq.ft in 2007, marking an increase of 80%. The 2012 revision saw a rise to Rs 1,250 per sq.ft, which was a 67% increase from the previous figure. However, in 2017, the value dropped to Rs 837 per sq.ft, reflecting a decrease of 33%. The guideline value then rose significantly to Rs 1,250 per sq.ft in 2023, followed by the current figure of Rs 1,375 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 230%. It is important to note that there are no figures available for the year 2002 for this street in the register.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value is Rs 1,375 per sq.ft, which aligns with the current guideline value of Block 9 R K V Nagar.

• Block 9 Pudhumai Colony: Rs 770 per sq.ft (2024)
• Block 9 State Bank Road: Rs 1,375 per sq.ft (2024)
• Block 9 Krishnampalayam Road 1,2,3: Rs 771 per sq.ft (2024)
• Block 9 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)
• Block 9 Kannian Street 1-3: Rs 1,100 per sq.ft (2024)
• Block 8 Veeran Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 R K V Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. 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 details.

Which Sub Registrar Office covers Block 9 R K V Nagar?

The Sub Registrar Office that covers Block 9 R K V Nagar 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 is a crucial factor when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in maintaining a standard for property valuations in the area.

Frequently asked questions

What is the current guideline value of Block 9 R K V Nagar?

The current guideline value of Block 9 R K V Nagar is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 417 per sq.ft in 2003 to Rs 1,375 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for Block 9 R K V Nagar?

Block 9 R K V Nagar is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Block 9 R K V Nagar?

The Sub Registrar Office for Block 9 R K V Nagar is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in Block 9 R K V Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,75,000, the stamp duty would be Rs 96,250 at 7%.