Guideline Value for Block 1 Madhavakadu Layout

Block 1 Madhavakadu Layout guideline value

The current guideline value for Block 1 Madhavakadu Layout is Rs 770 per sq.ft, effective from 1 July 2024. This layout is located in Ward A village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 1 Madhavakadu Layout has changed

The guideline value for Block 1 Madhavakadu Layout has seen several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased to Rs 211 per sq.ft in 2003, marking a significant rise of 101%. The value then rose to Rs 400 per sq.ft in 2007, reflecting a 90% increase. In 2012, the guideline value decreased to Rs 500 per sq.ft, a drop of 33%. This was followed by a rise to Rs 335 per sq.ft in 2017, which was an increase of 109%. The most recent revision in 2023 set the value at Rs 700 per sq.ft, and the current value for 2024 is Rs 770 per sq.ft, showing a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 represents an increase of 633% in the guideline value.

Guideline values in Ward A

In Ward A, there are 111 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 1,375 per sq.ft. The guideline value for Block 1 Madhavakadu Layout is below this median.

• Block 1 Krishnapalayam Road 1,2,3: Rs 1,100 per sq.ft (2024)
• Block 1 Krishnampalayam Harijan Colony: Rs 770 per sq.ft (2024)
• Block 1 New State Bank colony: Rs 1,100 per sq.ft (2024)
• Block 1 O.M.R.Colony: Rs 1,100 per sq.ft (2024)
• Block 1 Pumping station road 1 to 4: Rs 825 per sq.ft (2024)
• Block 1 Samiyappa Street 1 2 3 Main Road: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Madhavakadu Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. 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 precise calculations.

Which Sub Registrar Office covers Block 1 Madhavakadu Layout?

The Sub Registrar Office that covers Block 1 Madhavakadu Layout 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 A

The guideline value is a crucial factor when registering property transactions in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a recognized value.

When purchasing property, buyers should be aware that the guideline value affects the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 1 Madhavakadu Layout?

The current guideline value for Block 1 Madhavakadu Layout is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification for Block 1 Madhavakadu Layout?

Block 1 Madhavakadu Layout is classified as Residential Class III Type - I.

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

For a 1,000 sq.ft plot, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300 based on the current guideline value.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 1 Madhavakadu Layout, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.