Guideline Value for Block 13 Marappa Street 1,2,3

Block 13 Marappa Street 1,2,3 guideline value

The current guideline value of Block 13 Marappa Street 1,2,3 is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward B under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 13 Marappa Street 1,2,3 has changed

The guideline value for Block 13 Marappa Street 1,2,3 has undergone several revisions over the years. Starting from the 2002 revision, the value was set at Rs 355 per sq.ft. This increased to Rs 398 per sq.ft in 2003, marking a rise of 12%. The value saw a modest increase to Rs 400 per sq.ft in 2007, which was just a 1% change. However, it jumped significantly to Rs 750 per sq.ft in 2012, reflecting an 88% increase. In 2017, the value dropped to Rs 502 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 750 per sq.ft, and the current revision for 2024 is Rs 825 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 132%. There are no figures available for the revisions in the years not listed for this street.

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 for Block 13 Marappa Street 1,2,3 is below this median.

• Block 13 O.A.Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 13 E.V.Nanjappa Road: Rs 3,300 per sq.ft (2024)
• Block 13 Poosari Kadu: Rs 1,100 per sq.ft (2024)
• Block 13 S.K.Chennimalai Street: Rs 1,100 per sq.ft (2024)
• Block 13 Varatharajan St: Rs 1,100 per sq.ft (2024)
• Block 12 Varatharajan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 13 Marappa Street 1,2,3

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Block 13 Marappa Street 1,2,3?

The Sub Registrar Office that covers Block 13 Marappa Street 1,2,3 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 determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the fair value of the property, and the registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 13 Marappa Street 1,2,3?

The current guideline value of Block 13 Marappa Street 1,2,3 is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 355 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, marking an overall increase of 132% over the years.

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

For a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 74,250, based on the current guideline value of Rs 8,25,000.

Which Sub Registrar Office covers this street?

The Erode Joint I Sub Registrar Office covers Block 13 Marappa Street 1,2,3, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What other streets in Ward B have guideline values?

Other streets in Ward B include Block 13 O.A.Ramasamy Street at Rs 1,650 per sq.ft, Block 13 E.V.Nanjappa Road at Rs 3,300 per sq.ft, and several others at Rs 1,100 per sq.ft.