Guideline Value for Block 13 Mill Road

Block 13 Mill Road guideline value

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

How the guideline value of Block 13 Mill Road has changed

The guideline value for Block 13 Mill Road has undergone several revisions over the years. In 2002, the value was Rs 238 per sq.ft, which increased to Rs 267 per sq.ft in 2003. Following this, the value rose to Rs 300 per sq.ft in 2007, and then to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The value saw a significant increase to Rs 700 per sq.ft in 2023, and currently stands at Rs 770 per sq.ft as of the 2024 revision. Notably, there are no figures available for revisions in years not listed.

From 2017 to 2023, the guideline value increased by 109%. The change from 2012 to 2017 was a decrease of 33%. The value rose by 67% from 2007 to 2012, and there was a 12% increase from 2003 to 2007. The value also increased by 12% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 224%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 13 Mill Road's current figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 13 Mill Road?

The Sub Registrar Office covering Block 13 Mill Road 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 C

The guideline value is a crucial factor in the registration process of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to ensure that the transaction is registered at a value that reflects the current market conditions as set by the Registration Department. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for Block 13 Mill Road?

The current guideline value for Block 13 Mill Road is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Block 13 Mill Road has changed from Rs 238 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What is the registration fee for properties in Block 13 Mill Road?

The registration fee for properties in Block 13 Mill Road is 2% of the guideline value, which is Rs 15,400 for a plot valued at Rs 7,70,000.

Which office handles the registration for Block 13 Mill Road?

The registration for Block 13 Mill Road is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the median guideline value in Ward C?

The median guideline value in Ward C is Rs 1,375 per sq.ft, which is higher than the current guideline value of Block 13 Mill Road.