Guideline Value for Block 1 Muthu Vellappa Gounder Lane

Block 1 Muthu Vellappa Gounder Lane guideline value

The current guideline value for Block 1 Muthu Vellappa Gounder Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street 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 Muthu Vellappa Gounder Lane has changed

Since the 2002 revision, the guideline value for Block 1 Muthu Vellappa Gounder Lane has seen significant changes. In 2002, the value was Rs 527 per sq.ft, which increased to Rs 596 per sq.ft in 2003, marking a 13% rise. The value then continued to rise to Rs 750 per sq.ft in 2007, a 26% increase, followed by an increase to Rs 1,000 per sq.ft in 2012, which was a 33% rise. However, the value dropped to Rs 670 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revisions saw the value increase to Rs 1,000 per sq.ft in 2023, a 49% rise, and finally to Rs 1,100 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 is an increase of 109% in the guideline value.

Guideline values in Ward E

In Ward E, there are 196 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 825 per sq.ft. The guideline value for Block 1 Muthu Vellappa Gounder Lane is above this median.

• Block 1 Muthusamy Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Muthu Vellappa Gounder Street: Rs 1,925 per sq.ft (2024)
• Block 1 Perumal Naidu Street: Rs 825 per sq.ft (2024)
• Block 1 Kandhappa Street: Rs 1,100 per sq.ft (2024)
• Block 1 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)
• Block 1 S.K. Chenniappa Gounder Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 1 Muthu Vellappa Gounder Lane

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 1 Muthu Vellappa Gounder Lane?

The Sub Registrar Office that covers Block 1 Muthu Vellappa Gounder Lane 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 during the registration process when buying or selling property in Ward E. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded at a fair value as per the government’s assessment.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 1 Muthu Vellappa Gounder Lane?

The current guideline value for Block 1 Muthu Vellappa Gounder Lane 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 527 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 109% over the years.

What are the stamp duty and registration fees for properties 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.

Which office handles the registration for Block 1 Muthu Vellappa Gounder Lane?

The Erode Joint I Sub Registrar Office handles the registration for Block 1 Muthu Vellappa Gounder Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 1 Muthu Vellappa Gounder Lane?

Block 1 Muthu Vellappa Gounder Lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.