Guideline Value for Block 9 State Bank Road

Block 9 State Bank Road guideline value

The current guideline value of Block 9 State Bank Road is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Block 9 State Bank Road has changed

The guideline value for Block 9 State Bank Road has undergone several revisions over the years. Starting with the 2002 revision, the value was Rs 296 per sq.ft. This increased to Rs 332 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, which was a 126% increase. The 2012 revision brought the value down to Rs 1,250 per sq.ft, a decrease of 33%. Following this, the value rose again to Rs 837 per sq.ft in 2017, which was a 49% increase. The 2023 revision set the value at Rs 1,250 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,375 per sq.ft, reflecting a 10% rise.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 365%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry 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 is equal to the 2024 figure for Block 9 State Bank Road.

• Block 9 R K V Nagar: Rs 1,375 per sq.ft (2024)
• Block 9 Pudhumai Colony: Rs 770 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 State Bank Road

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

Which Sub Registrar Office covers Block 9 State Bank Road?

The Sub Registrar Office that covers Block 9 State Bank 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 C

The guideline value is a crucial factor in property transactions in Ward C. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements when transferring property ownership.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Block 9 State Bank Road?

The current guideline value of Block 9 State Bank Road 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 changed from Rs 296 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 365% over this period.

What is the land classification for Block 9 State Bank Road?

Block 9 State Bank Road falls under the Residential Class I Type - III land classification.

Where can I find the registration office for Block 9 State Bank Road?

The registration office for Block 9 State Bank Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Block 9 State Bank Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,23,750.