Guideline Value for Block 1 Chinnamuthu Street 2

Block 1 Chinnamuthu Street 2 guideline value

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

How the guideline value of Block 1 Chinnamuthu Street 2 has changed

The guideline value for Block 1 Chinnamuthu Street 2 has undergone several revisions since 2017. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from Rs 2,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, showing a significant increase of 49% to the 2023 figure. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the current 2024 revision, there has been a total increase of 64%. This consistent rise reflects changes in the guideline value over the years, highlighting the evolving property landscape in the area.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that have 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 2 is notably above this median.

• Block 1 Chinnamuthu Street 1: 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 2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, leading to a total of Rs 1,98,000. 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 1 Chinnamuthu Street 2?

The Sub Registrar Office that covers Block 1 Chinnamuthu Street 2 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 B

The guideline value serves as a benchmark for property transactions in Ward B, determining the minimum value at which properties can be registered. It is essential for buyers and sellers to understand that this value influences the stamp duty and registration fees applicable during the transaction process.

When registering a property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the registration process reflects the current market conditions as indicated by the guideline value.

Frequently asked questions

What is the current guideline value for Block 1 Chinnamuthu Street 2?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

What are the other streets in Ward B with their guideline values?

Other streets in Ward B include Block 1 Chinnamuthu Street 1 at Rs 2,200 per sq.ft, Block 1 Brough Road 1,2 Main Road at Rs 6,600 per sq.ft, and several others at Rs 1,100 per sq.ft.

What is the registration fee for properties in Block 1 Chinnamuthu Street 2?

The registration fee for properties in Block 1 Chinnamuthu Street 2 is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant link provided to locate the Erode Joint I Sub Registrar Office or any other office.