Guideline Value for Block 1 Muthu Vellappa Gounder Street

Block 1 Muthu Vellappa Gounder Street guideline value

The current guideline value for Block 1 Muthu Vellappa Gounder Street is Rs 1,925 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Block 1 Muthu Vellappa Gounder Street has changed

The guideline value for Block 1 Muthu Vellappa Gounder Street has undergone several revisions over the years. In 2002, the guideline value was Rs 646 per sq.ft, which increased to Rs 730 per sq.ft in 2003. Following this, the value rose to Rs 900 per sq.ft in 2007, and then saw a significant jump to Rs 1,750 per sq.ft in 2012. However, it decreased to Rs 1,172 per sq.ft in 2017. The value then increased to Rs 1,750 per sq.ft in 2023, and currently stands at Rs 1,925 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 13%; from 2003 to 2007, an increase of 23%; from 2007 to 2012, a significant increase of 94%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and finally, from 2023 to 2024, an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 198%.

Guideline values in Ward E

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

• Block 1 Muthu Vellappa Gounder Lane: Rs 1,100 per sq.ft (2024)
• Block 1 Muthusamy Gounder Lane: Rs 1,100 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value would be Rs 19,25,000. The stamp duty at 7% would amount to Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total fees together to Rs 1,73,250. 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 Muthu Vellappa Gounder Street?

The Sub Registrar Office that covers Block 1 Muthu Vellappa Gounder Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

For further information, you can find your SRO.

How the guideline value is used when you buy or sell in Ward E

The guideline value plays a crucial role when buying or selling property in Ward E. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consult the guideline value to ensure compliance with legal requirements and to understand the financial obligations involved in the process.

Frequently asked questions

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

The current guideline value for Block 1 Muthu Vellappa Gounder Street is Rs 1,925 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 646 per sq.ft in 2002 to Rs 1,925 per sq.ft in 2024, reflecting an overall increase of 198% over the years.

What are the registration fees for properties in this area?

For a property valued at Rs 19,25,000, the stamp duty is Rs 1,34,750, and the registration fee is Rs 38,500, totaling Rs 1,73,250.

Which Sub Registrar Office is responsible for this street?

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

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.