Guideline Value for Block 9 Vengidusamy Ravudh Street

Block 9 Vengidusamy Ravudh Street guideline value

The current guideline value of Block 9 Vengidusamy Ravudh Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Block 9 Vengidusamy Ravudh Street has changed

The guideline value for Block 9 Vengidusamy Ravudh Street has seen several revisions over the years. In 2002, the value was Rs 289 per sq.ft, which increased to Rs 327 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 350 per sq.ft in 2007, reflecting a 7% increase. By 2012, the guideline value decreased to Rs 500 per sq.ft, a decline of 43%. The following revisions showed significant changes, with the value increasing to Rs 335 per sq.ft in 2017, which was a 109% increase from the previous figure. The value further increased to Rs 700 per sq.ft in 2023, and it has now reached Rs 771 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 167%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Block 9 Vengidusamy Ravudh Street's 2024 figure below that median.

• Block 9 Moydhin Sagip Street: Rs 1,100 per sq.ft (2024)
• Block 9 East Okkiliyar Street: Rs 771 per sq.ft (2024)
• Block 9 Cutcheri Street: Rs 1,100 per sq.ft (2024)
• Block 9 Court Street (Periyar Street) Part-2: Rs 1,100 per sq.ft (2024)
• Block 8 South Okkiliyar Steet (Kopperundevi Street): Rs 771 per sq.ft (2024)
• Block 8 North Okkiliar Street, Arulmozhi theru: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 Vengidusamy Ravudh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total cost for these fees to Rs 69,390. 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 detailed calculations.

Which Sub Registrar Office covers Block 9 Vengidusamy Ravudh Street?

The Sub Registrar Office that covers Block 9 Vengidusamy Ravudh Street 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 E

The guideline value is a critical factor in the registration process when buying or selling property in Ward E. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Block 9 Vengidusamy Ravudh Street?

The current guideline value of Block 9 Vengidusamy Ravudh Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 289 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 167% over this period.

What is the land classification for Block 9 Vengidusamy Ravudh Street?

Block 9 Vengidusamy Ravudh Street is classified under Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 9 Vengidusamy Ravudh Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,71,000, the total fees would amount to Rs 69,390.