Guideline Value for Block 16 New Masudi Street

Block 16 New Masudi Street guideline value

The current guideline value for Block 16 New Masudi Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Block 16 New Masudi Street has changed

The guideline value for Block 16 New Masudi Street has seen several revisions over the years. In 2002, the value was Rs 404 per sq.ft, which increased to Rs 453 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 750 per sq.ft in 2007, which was a +66% increase. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, reflecting a substantial increase of +233%. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The value climbed again to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in the 2024 revision, which is a +10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +581%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft as of 2024. The median value for these streets is Rs 1,375 per sq.ft, positioning Block 16 New Masudi Street above this median.

• Block 16 Pallapattiyar Thotta Huts: Rs 770 per sq.ft (2024)
• Block 16 Municipal Higher Secondary School Street: Rs 1,100 per sq.ft (2024)
• Block 16 Kurangan Kuttai Kudisai: Rs 770 per sq.ft (2024)
• Block 16 Kurangan Kuttai: Rs 770 per sq.ft (2024)
• Block 17 A.P.Thangavel Chettiar Street: Rs 2,750 per sq.ft (2024)
• Block 16 Kandasamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 16 New Masudi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 16 New Masudi Street?

The Sub Registrar Office that covers Block 16 New Masudi 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 more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value for Block 16 New Masudi Street?

The current guideline value for Block 16 New Masudi Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 404 per sq.ft in 2002 and reaching Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +581%.

What is the land classification for Block 16 New Masudi Street?

Block 16 New Masudi Street is classified as Commercial Class I Type - III under the Erode Joint I SRO.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Block 16 New Masudi Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.