Guideline Value for Block 16 Municipal Street No 2

Block 16 Municipal Street No 2 guideline value

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

How the guideline value of Block 16 Municipal Street No 2 has changed

The guideline value for Block 16 Municipal Street No 2 has seen several revisions over the years. In 2002, the guideline value was Rs 777 per sq.ft, which increased to Rs 872 per sq.ft in 2003, marking a change of +12%. The value rose to Rs 1,000 per sq.ft in 2007, a change of +15%. The next revision in 2012 saw a significant increase to Rs 2,300 per sq.ft, which was a rise of +130%. However, this was followed by a decrease to Rs 1,541 per sq.ft in 2017, reflecting a change of -33%. The guideline value then increased to Rs 2,300 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 2,530 per sq.ft, a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +226%. There are no figures available for revisions in years not mentioned in the register 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 for these streets is Rs 798 per sq.ft, placing Block 16 Municipal Street No 2 above this median.

• Block 16 Municipal Lane No 1: 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 Street No 2

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, leading to a total of Rs 2,27,700. It is important to note that the 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 information.

Which Sub Registrar Office covers Block 16 Municipal Street No 2?

The Sub Registrar Office that covers Block 16 Municipal Street No 2 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure compliance with local regulations. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which is an essential aspect of the registration process.

Frequently asked questions

What is the current guideline value of Block 16 Municipal Street No 2?

The current guideline value of Block 16 Municipal Street No 2 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 is the land classification for Block 16 Municipal Street No 2?

Block 16 Municipal Street No 2 is classified as Mixed Type - I, according to the local land classification regulations.

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

The Sub Registrar Office for Block 16 Municipal Street No 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

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

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