Guideline Value for Block 15 Municipal Lane

Block 15 Municipal Lane guideline value

The current guideline value of Block 15 Municipal 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, and the land classification is Mixed Type - I.

How the guideline value of Block 15 Municipal Lane has changed

Since 2002, the guideline value of Block 15 Municipal Lane has undergone several revisions. The 2002 revision set the value at Rs 777 per sq.ft, which increased to Rs 872 per sq.ft in 2003, marking a 12% rise. The value then saw a 15% increase to Rs 1,000 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 2,300 per sq.ft, reflecting a 130% increase. However, in 2017, the value dropped to Rs 1,541 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,300 per sq.ft, and the latest revision in 2024 set it at Rs 2,530 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 226%. There are no figures available for revisions in years other than those specified.

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 Municipal Lane is above this median.

• Block 15 R.K. Venkitasamy Street: Rs 7,700 per sq.ft (2024)
• Block 15 Market Lane: Rs 2,530 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 15 Cauvery Road Main Road: Rs 3,300 per sq.ft (2024)
• Block 16 Jinna Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. 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 15 Municipal Lane?

The Sub Registrar Office that covers Block 15 Municipal Lane 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 a crucial factor in property transactions within Ward D. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees owed during the sale process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the appropriate fees for registration. It is essential for both parties to understand that the duty is charged based on the higher value between the guideline and the sale price, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Block 15 Municipal Lane?

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

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 777 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, representing an overall increase of 226% over the years.

What is the land classification for Block 15 Municipal Lane?

The land classification for Block 15 Municipal Lane is Mixed Type - I, indicating a diverse use of land in the area.

Where can I find the Sub Registrar Office for Block 15 Municipal Lane?

The Sub Registrar Office for Block 15 Municipal Lane 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 Block 15 Municipal Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.