Guideline Value for Block 12 Muthukaruppan St

Block 12 Muthukaruppan St guideline value

The current guideline value of Block 12 Muthukaruppan St 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 and is classified as Residential Class I Type - II.

How the guideline value of Block 12 Muthukaruppan St has changed

The guideline value for Block 12 Muthukaruppan St has seen several revisions over the years. In 2003, the guideline value was Rs 501 per sq.ft, which increased to Rs 750 per sq.ft in 2007, marking a 50% rise. The value then doubled to Rs 1,500 per sq.ft in 2012, reflecting a 100% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rose significantly to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 229%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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 guideline value in this area is Rs 1,100 per sq.ft, placing Block 12 Muthukaruppan St above that median.

• Block 12 N.G.G.O.Colony Road: Rs 1,100 per sq.ft (2024)
• Block 12 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 12 Poosari Chennimalai Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 12 Varatharajan Street: Rs 1,100 per sq.ft (2024)
• Block 12 Arun Street: Rs 1,100 per sq.ft (2024)
• Block 12 A.Ramasamy Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 12 Muthukaruppan St

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, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Block 12 Muthukaruppan St?

The Sub Registrar Office that covers Block 12 Muthukaruppan St is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the legal obligations of the buyer and seller, including the fees that must be paid at the time of registration. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Block 12 Muthukaruppan St?

The current guideline value of Block 12 Muthukaruppan St 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 501 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 229% over the years.

What are the other streets in Ward B and their guideline values?

Other streets in Ward B include Block 12 N.G.G.O.Colony Road at Rs 1,100 per sq.ft, Block 12 Gandhi Nagar Colony at Rs 2,200 per sq.ft, and several others at Rs 1,100 per sq.ft.

What fees are associated with buying property in Block 12 Muthukaruppan St?

When buying property in Block 12 Muthukaruppan St, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Block 12 Muthukaruppan St?

The Sub Registrar Office for Block 12 Muthukaruppan St is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.