Guideline Value for Block 11 Muthukaruppan Street

Block 11 Muthukaruppan Street guideline value

The current guideline value of Block 11 Muthukaruppan 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 11 Muthukaruppan Street has changed

Over the years, the guideline value for Block 11 Muthukaruppan Street has experienced significant changes. The earliest recorded figure is from 2003, which was Rs 501 per sq.ft. This value increased to Rs 750 per sq.ft in 2007, marking a 50% rise. In 2012, the guideline value remained at Rs 1,500 per sq.ft, showing no recorded figure for 2002. By 2017, it decreased to Rs 1,005 per sq.ft, a reduction of 33%. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024, representing a 10% rise.

From 2003 to 2024, the overall increase in the guideline value is 229%. The changes between the revisions are noteworthy: from 2017 to 2023, the value rose by 49%, and from 2012 to 2017, it decreased by 33%. The significant jump from 2007 to 2012 was 100%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Ward B

In Ward B, there are 170 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 1,100 per sq.ft. The guideline value of Block 11 Muthukaruppan Street is above this median.

• Block 11 N.G.G.O.Colony 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 11 Gandhi Nagar Road: Rs 2,530 per sq.ft (2024)
• Block 11 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 11 Power House Road: Rs 1,100 per sq.ft (2024)
• Block 11 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 11 50 feet Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Muthukaruppan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Block 11 Muthukaruppan Street?

The Sub Registrar Office that covers Block 11 Muthukaruppan Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, in the Coimbatore registration zone.

For assistance, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ward B. 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 registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Block 11 Muthukaruppan Street?

The current guideline value of Block 11 Muthukaruppan 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 significantly from Rs 501 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 229% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty at 7% is Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office should I visit for transactions in Block 11 Muthukaruppan Street?

The Erode Joint I Sub Registrar Office is responsible for transactions in Block 11 Muthukaruppan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

What is the land classification of Block 11 Muthukaruppan Street?

Block 11 Muthukaruppan Street is classified as Residential Class I Type - II, indicating its suitability for residential development.