Guideline Value for Block 16 Market Road

Block 16 Market Road guideline value

The current guideline value for Block 16 Market Road 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 it falls under the Mixed Type - I land classification.

How the guideline value of Block 16 Market Road has changed

The guideline value for Block 16 Market Road has seen several revisions over the years. Starting from Rs 865 per sq.ft in 2002, the value increased to Rs 970 in 2003, marking a 12% rise. In 2007, the value jumped significantly to Rs 1,000 per sq.ft, a 3% increase. The 2012 revision saw the value rise to Rs 2,300 per sq.ft, reflecting a substantial 130% increase from the previous figure. However, in 2017, the value dropped to Rs 1,541 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,300 per sq.ft in 2023, before reaching the current rate of Rs 2,530 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 192%. The register does not have figures for any other years 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. The median value is Rs 798 per sq.ft, and Block 16 Market Road's 2024 figure is above that median.

• Block 16 Municipal Lane No 1: Rs 2,530 per sq.ft (2024)
• Block 16 Municipal Street No 2: Rs 2,530 per sq.ft (2024)
• Block 16 Jinna Street: Rs 2,750 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 16 R.K. Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 16 Cauvery Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Market Road

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

Which Sub Registrar Office covers Block 16 Market Road?

The Sub Registrar Office that covers Block 16 Market Road 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value helps establish a fair basis for the transaction, ensuring that both the buyer and seller are aware of the financial implications. It is essential for all parties involved to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 16 Market Road?

The current guideline value for Block 16 Market Road 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 from Rs 865 in 2002 to Rs 2,530 in 2024, reflecting an overall increase of 192% over this period.

What are the stamp duty and registration fees for properties in Block 16 Market Road?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office is responsible for Block 16 Market Road?

The Erode Joint I Sub Registrar Office covers Block 16 Market Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 16 Market Road?

Block 16 Market Road falls under the Mixed Type - I land classification as per the guidelines set by the Erode Joint I SRO.