Guideline Value for Block 1 E.C.Muthusamy Gounder Lay-out

Block 1 E.C.Muthusamy Gounder Lay-out guideline value

The current guideline value for Block 1 E.C.Muthusamy Gounder Lay-out is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 1 E.C.Muthusamy Gounder Lay-out has changed

The guideline value for Block 1 E.C.Muthusamy Gounder Lay-out has undergone several revisions over the years. The earliest recorded figure is Rs 359 per sq.ft in 2002, which increased to Rs 406 per sq.ft in 2003, marking a 13% rise. Following this, the value rose to Rs 500 per sq.ft in 2007, reflecting a 23% increase. The next revision in 2012 saw a significant jump to Rs 1,000 per sq.ft, which was a 100% increase. However, in 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 206% in the guideline value.

Guideline values in Ward E

In Ward E, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as per the 2024 revision, with a median value of Rs 825 per sq.ft. The guideline value for Block 1 E.C.Muthusamy Gounder Lay-out is above this median.

• Block 1 Kandhappa Street: Rs 1,100 per sq.ft (2024)
• Block 1 Brough Road Main Road Part 1: Rs 6,600 per sq.ft (2024)
• Block 1 Muthusamy Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Adhiyaman Street: Rs 825 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 E.C.Muthusamy Gounder Lay-out

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which would be Rs 77,000, and the registration fee at 2% amounts to Rs 22,000. Therefore, the total cost for stamp duty and registration fee would be Rs 99,000. 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 precise calculations.

Which Sub Registrar Office covers Block 1 E.C.Muthusamy Gounder Lay-out?

The Sub Registrar Office that covers Block 1 E.C.Muthusamy Gounder Lay-out 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 E

The guideline value is a critical factor when registering property transactions in Ward E. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold or purchased, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. This value helps to maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 1 E.C.Muthusamy Gounder Lay-out?

The current guideline value for Block 1 E.C.Muthusamy Gounder Lay-out is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 359 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 206%.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that they are calculated based on a fair benchmark.