Guideline Value for Block 16 Municipal Lane No 1

Block 16 Municipal Lane No 1 guideline value

The current guideline value for Block 16 Municipal Lane No 1 is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in the village of Erode under the Erode Joint I SRO, classified as Mixed Type - I land.

How the guideline value of Block 16 Municipal Lane No 1 has changed

The guideline value for Block 16 Municipal Lane No 1 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. The value then rose to Rs 1,000 per sq.ft in 2007, followed by a significant jump to Rs 2,300 per sq.ft in 2012. However, this figure dropped to Rs 1,541 per sq.ft in 2017. The value increased again to Rs 2,300 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,530 per sq.ft.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 was 10%. Notably, the value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was 130%, and from 2003 to 2007, it was 15%. Overall, from 2002 to 2024, the guideline value has increased by 226%. The register has no figure for this street for the years not listed.

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 of Rs 798 per sq.ft. The guideline value for Block 16 Municipal Lane No 1 is above this median.

• Block 16 Municipal Street No 2: Rs 2,530 per sq.ft (2024)
• Block 16 Market Road: Rs 2,530 per sq.ft (2024)
• Block 16 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 16 Jinna Street: Rs 2,750 per sq.ft (2024)
• Block 16 R.K. Venkatasamy Street: Rs 7,700 per sq.ft (2024)
• Block 16 Valaiyakara Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Municipal Lane No 1

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, totaling Rs 2,27,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 16 Municipal Lane No 1?

The Sub Registrar Office that covers Block 16 Municipal Lane No 1 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 information.

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

The guideline value is a critical factor in the registration process for property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price. The higher of the two amounts 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 16 Municipal Lane No 1?

The current guideline value for Block 16 Municipal Lane No 1 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 777 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 226% over the years.

What are the stamp duty and registration fees for property in Block 16 Municipal Lane No 1?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000. The stamp duty is Rs 1,77,100, and the registration fee is Rs 50,600, totaling Rs 2,27,700.

Where is the Sub Registrar Office for Block 16 Municipal Lane No 1 located?

The Sub Registrar Office for Block 16 Municipal Lane No 1 is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher amount between the guideline value and the sale price is considered for calculating these fees.