Guideline Value for Block 15 Market Lane

Block 15 Market Lane guideline value

The current guideline value of Block 15 Market Lane is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Mixed Type - I.

How the guideline value of Block 15 Market Lane has changed

Since the 2002 revision, the guideline value for Block 15 Market Lane has seen significant changes. In 2002, the value was Rs 691 per sq.ft, which increased to Rs 775 per sq.ft in 2003. Following that, the value rose to Rs 1,000 per sq.ft in 2007, and then to Rs 2,300 per sq.ft in 2012. A decrease was noted in the 2017 revision, where it was set at Rs 1,541 per sq.ft. The value then increased to Rs 2,300 per sq.ft in 2023, before reaching the current rate of Rs 2,530 per sq.ft in 2024.

Examining the changes between revisions, from 2017 to 2023, there was an increase of 49%. The 2023 to 2024 revision saw a 10% rise. The most notable increase was from 2007 to 2012, which was a substantial 130%. Overall, from 2002 to 2024, the guideline value has increased by 266%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry 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. The guideline value for Block 15 Market Lane is above this median.

• Block 15 Municipal Lane: Rs 2,530 per sq.ft (2024)
• Block 15 R.K. Venkitasamy Street: Rs 7,700 per sq.ft (2024)
• Block 15 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)
• Block 16 Agrahara Street: Rs 2,200 per sq.ft (2024)
• Block 16 Cauvery Road: Rs 3,300 per sq.ft (2024)
• Block 14 Venkitta Perumal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 15 Market Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 15 Market Lane?

The Sub Registrar Office covering Block 15 Market Lane 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 D

The guideline value plays a crucial role in the registration process of property transactions in Ward D. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller registers a property, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Block 15 Market Lane?

The current guideline value for Block 15 Market Lane is Rs 2,530 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revisions for this street occurring in 2002, 2003, 2007, 2012, 2017, 2023, and 2024.

What was the guideline value in 2017?

The guideline value for Block 15 Market Lane in 2017 was Rs 1,541 per sq.ft.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and maintains transparency.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Sub Registrar Office for Block 15 Market Lane at the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009. You can also find your SRO online.