Guideline Value for Block 16 Muthukumarasamy Nagar(Singaravelu Street)

Block 16 Muthukumarasamy Nagar(Singaravelu Street) guideline value

The current guideline value for Block 16 Muthukumarasamy Nagar(Singaravelu Street) is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 16 Muthukumarasamy Nagar(Singaravelu Street) has changed

The guideline value for Block 16 Muthukumarasamy Nagar(Singaravelu Street) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 750 per sq.ft in 2012, marking an increase of 88%. However, in 2017, the value dropped to Rs 502 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 750 per sq.ft in 2023, followed by a further increase to Rs 825 per sq.ft in 2024, reflecting a 10% rise.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 106%, showcasing a substantial change over the years.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value is Rs 825 per sq.ft, which is equal to the current guideline value of Block 16 Muthukumarasamy Nagar(Singaravelu Street).

• Block 16 Nethaji Road: Rs 1,375 per sq.ft (2024)
• Block 16 Rajaji Street: Rs 825 per sq.ft (2024)
• Block 16 Jeevanandham Road (Main Road): Rs 1,375 per sq.ft (2024)
• Block 17 Annamalai Pillai Lane: Rs 771 per sq.ft (2024)
• Block 17 Annamalai Pillai Street: Rs 771 per sq.ft (2024)
• Block 16 Chinnusamy Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 Muthukumarasamy Nagar(Singaravelu Street)

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. Please 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 Muthukumarasamy Nagar(Singaravelu Street)?

The Sub Registrar Office that covers Block 16 Muthukumarasamy Nagar(Singaravelu 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 E

The guideline value plays a crucial role during the registration of property transactions in Ward E. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold, ensuring that the fees are calculated based on the official valuation of the property.

When registering a property, buyers and sellers must be aware that the guideline value will be considered in the calculation of fees. This ensures transparency and fairness in the property transaction process, as it reflects the official valuation set by the government.

Frequently asked questions

What is the current guideline value for Block 16 Muthukumarasamy Nagar(Singaravelu Street)?

The current guideline value for Block 16 Muthukumarasamy Nagar(Singaravelu Street) is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 106% over the years.

What were the guideline values in previous revisions?

The guideline values in previous revisions were Rs 750 per sq.ft in 2012, Rs 502 per sq.ft in 2017, and Rs 750 per sq.ft in 2023.

Where is the Erode Joint I Sub Registrar Office located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Block 16 Muthukumarasamy Nagar(Singaravelu Street)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would amount to Rs 74,250.