Guideline Value for Block 1 Muthusamy Gounder Lane

Block 1 Muthusamy Gounder Lane guideline value

The current guideline value for Block 1 Muthusamy 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 and is classified as Residential Class II Type - I.

How the guideline value of Block 1 Muthusamy Gounder Lane has changed

The guideline value for Block 1 Muthusamy Gounder Lane has seen several revisions over the years. In 2002, the value was Rs 431 per sq.ft, which increased to Rs 487 per sq.ft in 2003, marking a 13% rise. The value continued to rise, reaching Rs 600 per sq.ft in 2007, a 23% increase from the previous year. By 2012, the value had increased to Rs 1,000 per sq.ft, reflecting a 67% jump from 2007. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 155%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 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 Muthusamy Gounder Lane is above this median.

• 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)
• 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 Perumal Naidu Street: Rs 825 per sq.ft (2024)
• Block 1 Brough Road Main Road Part 1: Rs 6,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 1 Muthusamy Gounder Lane?

The Sub Registrar Office covering Block 1 Muthusamy Gounder Lane 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ward E. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property in this area, the guideline value will be referenced to assess the applicable fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for Block 1 Muthusamy 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 from Rs 431 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 155% over this period.

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 property registrations for Block 1 Muthusamy Gounder Lane?

The Erode Joint I Sub Registrar Office handles property registrations for Block 1 Muthusamy Gounder Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined for properties in Ward E?

The guideline value is determined by the Registration Department and reflects the minimum value for property registration. It is based on various factors, including the classification of the area and market conditions.