Guideline Value for Block 10 Muthukaruppa Street

Block 10 Muthukaruppa Street guideline value

The current guideline value of Block 10 Muthukaruppa Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Block 10 Muthukaruppa Street has changed

The guideline value for Block 10 Muthukaruppa Street has undergone several revisions over the years. In 2002, the value was Rs 311 per sq.ft, which increased to Rs 349 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 750 per sq.ft in 2007, and then it doubled to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then increased substantially to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 is 10%. Notably, the overall increase from 2002 to 2024 is 431%. The register has no figures for revisions in the years not mentioned.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Block 10 Muthukaruppa Street's 2024 figure above this median.

• Block 10 N.G.G.O.Colony Road 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 10 O.A.Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 10 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)
• Block 10 Poosari Chennimalai Street 1 to 5: Rs 1,100 per sq.ft (2024)
• Block 10 50 Feet Road: Rs 1,100 per sq.ft (2024)
• Block 10 Varatharajan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 10 Muthukaruppa Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 10 Muthukaruppa Street?

The Sub Registrar Office that covers Block 10 Muthukaruppa Street 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 B

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in property dealings.

When you buy or sell property, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 10 Muthukaruppa Street?

The current guideline value of Block 10 Muthukaruppa Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 311 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 431% over this period.

What is the land classification for Block 10 Muthukaruppa Street?

Block 10 Muthukaruppa Street is classified as Residential Class I Type - II.

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

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

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, the total fees would amount to Rs 1,48,500.