Guideline Value for Block 15 Municipal Higher Secondary School Street

Block 15 Municipal Higher Secondary School Street guideline value

The current guideline value for Block 15 Municipal Higher Secondary School Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Block 15 Municipal Higher Secondary School Street has changed

The guideline value for Block 15 Municipal Higher Secondary School Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 240 per sq.ft. This increased to Rs 269 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, which was an increase of 179%. In 2012, it remained at Rs 1,000 per sq.ft, showing no figure for this street in the register for that year.

From 2012 to 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. However, it rebounded to Rs 1,000 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 358%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, placing Block 15 Municipal Higher Secondary School Street's 2024 figure below that median.

• Block 15 Sahan Saibu Street: Rs 771 per sq.ft (2024)
• Block 15 Janakiammal Layout: Rs 1,100 per sq.ft (2024)
• Block 15 Cauvery Road Main Road Part 1: Rs 1,375 per sq.ft (2024)
• Block 16 Cauvery Road Main Road: Rs 2,750 per sq.ft (2024)
• Block 16 Kandasamy Kudisai: Rs 770 per sq.ft (2024)
• Block 16 Kandasamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 15 Municipal Higher Secondary School Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Block 15 Municipal Higher Secondary School Street?

The Sub Registrar Office that covers Block 15 Municipal Higher Secondary School 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 further assistance.

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

The guideline value is a critical factor during the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 15 Municipal Higher Secondary School Street?

The current guideline value for Block 15 Municipal Higher Secondary School Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 240 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What is the land classification for Block 15 Municipal Higher Secondary School Street?

The land classification for Block 15 Municipal Higher Secondary School Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 15 Municipal Higher Secondary School Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be Rs 77,000 for a property valued at Rs 11,00,000.