Guideline Value for Block 13 Mill Huts

Block 13 Mill Huts guideline value

The current guideline value of Block 13 Mill Huts is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Ward C village under the Erode Joint I SRO and is classified as Residential Class III Type - II.

How the guideline value of Block 13 Mill Huts has changed

The guideline value for Block 13 Mill Huts has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 131 per sq.ft. This value increased to Rs 147 per sq.ft in 2003, marking a change of +12%. The subsequent revisions saw further increases, with the value rising to Rs 200 per sq.ft in 2007 (+36%), Rs 500 per sq.ft in 2012 (+150%), and then decreasing to Rs 335 per sq.ft in 2017 (-33%). The 2023 revision set the value at Rs 700 per sq.ft, which was a significant increase of +109% from the previous revision.

As of the latest revision in 2024, the guideline value stands at Rs 770 per sq.ft, reflecting a change of +10% from the 2023 figure. The overall change from the 2002 revision to the 2024 revision is +488%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, indicating that Block 13 Mill Huts' 2024 guideline value is below that median.

• Block 13 Mill Road: Rs 770 per sq.ft (2024)
• Block 13 Gandhipuram Road: Rs 771 per sq.ft (2024)
• Block 13 E.V.R. Huts: Rs 770 per sq.ft (2024)
• Block 13 Park Road (or) Thangavel Road: Rs 2,750 per sq.ft (2024)
• Block 13 Rajajipuram (Puram): Rs 770 per sq.ft (2024)
• Block 12 Veerapathira Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 13 Mill Huts

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the 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, totaling Rs 69,300. 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 more detailed calculations.

Which Sub Registrar Office covers Block 13 Mill Huts?

The Sub Registrar Office that covers Block 13 Mill Huts 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 C

The guideline value is a crucial factor when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official register, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Block 13 Mill Huts?

The current guideline value of Block 13 Mill Huts 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 significantly, starting from Rs 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, representing an overall increase of +488%.

Where can I find the Sub Registrar Office for Block 13 Mill Huts?

The Sub Registrar Office for Block 13 Mill Huts is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, under the Erode Joint I SRO.

What are the stamp duty and registration fees for property in Block 13 Mill Huts?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the transaction is recorded accurately in the official register.