Guideline Value for Block 1 Chinnamuthu Street 1

Block 1 Chinnamuthu Street 1 guideline value

The current guideline value of Block 1 Chinnamuthu Street 1 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, and it is classified as Residential Special Type - I.

How the guideline value of Block 1 Chinnamuthu Street 1 has changed

The guideline value for Block 1 Chinnamuthu Street 1 has seen several revisions over the years. The earliest recorded value in 2002 was Rs 448 per sq.ft, which increased to Rs 502 per sq.ft in 2003, reflecting a change of +12%. The value then rose significantly to Rs 750 per sq.ft in 2007, marking an increase of +49%. Following that, the value jumped to Rs 2,000 per sq.ft in 2012, showing a substantial increase of +167%. However, it then decreased to Rs 1,340 per sq.ft in 2017, indicating a decline of -33%. The value further increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a rise of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +391%. The register has no figures for any other years for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 1 Chinnamuthu Street 1 is above this median.

• Block 1 Chinnamuthu Street 2: Rs 2,200 per sq.ft (2024)
• Block 1 Brough Road 1,2 Main Road: Rs 6,600 per sq.ft (2024)
• Block 19 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 19 N.G.G.O.Colony Street 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 1 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 19 Marappa Gounder Street 1,2,3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Chinnamuthu Street 1

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 1 Chinnamuthu Street 1?

The Sub Registrar Office that covers Block 1 Chinnamuthu Street 1 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 B

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to determine the applicable fees, which are charged based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 1 Chinnamuthu Street 1?

The current guideline value of Block 1 Chinnamuthu Street 1 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 448 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +391% over this period.

What is the land classification for Block 1 Chinnamuthu Street 1?

Block 1 Chinnamuthu Street 1 is classified as Residential Special Type - I.

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

The Sub Registrar Office for Block 1 Chinnamuthu Street 1 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.