Guideline Value for Block 10 Manickam Nagar

Block 10 Manickam Nagar guideline value

The current guideline value of Block 10 Manickam Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 10 Manickam Nagar has changed

The guideline value for Block 10 Manickam Nagar has undergone several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 206 per sq.ft. This figure increased to Rs 232 per sq.ft in 2003, marking a rise of 13%. The next significant change occurred in 2007, when the value rose to Rs 250 per sq.ft, reflecting an increase of 8%. In 2012, the value further increased to Rs 500 per sq.ft, resulting in a 100% jump. However, in 2017, the value dropped to Rs 335 per sq.ft, a decrease of 33%. The value then saw a substantial increase to Rs 700 per sq.ft in 2023, which was a rise of 109%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, a 10% increase from the previous year.

The register has no figure for this street for the years not mentioned above.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 798 per sq.ft, indicating that Block 10 Manickam Nagar's 2024 figure is below that median.

• Block 10 Krishnamoorthy Thottam Street 1.2.3.4.: Rs 771 per sq.ft (2024)
• Block 10 Periya Mariamman Koil Street: Rs 770 per sq.ft (2024)
• Block 10 Ranganathan Lay-out 1,2: Rs 770 per sq.ft (2024)
• Block 11 Cauvery Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 11 Chinna Mariamman Kovil Street: Rs 771 per sq.ft (2024)
• Block 11 Karpagam Lay-out 1 2 3 4: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 Manickam Nagar

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, resulting in a total cost of Rs 69,300. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 10 Manickam Nagar?

The Sub Registrar Office that covers Block 10 Manickam Nagar 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 10 Manickam Nagar?

The current guideline value of Block 10 Manickam Nagar 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 206 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 274% over the years.

What is the land classification for Block 10 Manickam Nagar?

Block 10 Manickam Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Block 10 Manickam Nagar is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total costs can be calculated accordingly.