Guideline Value for Block 14 Madhava Krishna Street

Block 14 Madhava Krishna Street guideline value

The current guideline value for Block 14 Madhava Krishna Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Residential Class I Type - II.

How the guideline value of Block 14 Madhava Krishna Street has changed

The guideline value for Block 14 Madhava Krishna Street has seen several revisions over the years. In 2002, the value was Rs 777 per sq.ft, which increased to Rs 872 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then increased significantly to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 112%. Notably, there are no figures available for the years between the revisions listed above for this street.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. Block 14 Madhava Krishna Street's current guideline value of Rs 1,650 per sq.ft is above this median.

• Block 14 Marimuthur Street: Rs 1,100 per sq.ft (2024)
• Block 14 Moshi Keeranar Street: Rs 1,375 per sq.ft (2024)
• Block 14 Chella Batsha Street: Rs 825 per sq.ft (2024)
• Block 14 Venkitta Perumal Street: Rs 1,100 per sq.ft (2024)
• Block 14 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)
• Block 15 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 14 Madhava Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 14 Madhava Krishna Street?

The Sub Registrar Office that covers Block 14 Madhava Krishna Street 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are recorded accurately and transparently, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value for Block 14 Madhava Krishna Street?

The current guideline value for Block 14 Madhava Krishna 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 from Rs 777 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 112% over this period.

What is the stamp duty for property in Block 14 Madhava Krishna Street?

The stamp duty for property in Block 14 Madhava Krishna Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Block 14 Madhava Krishna Street?

The Sub Registrar Office for Block 14 Madhava Krishna Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What other streets are in Ward D with guideline values?

Other streets in Ward D include Block 14 Marimuthur Street at Rs 1,100 per sq.ft, Block 14 Moshi Keeranar Street at Rs 1,375 per sq.ft, and several others, with values ranging up to Rs 3,300 per sq.ft.