Guideline Value for Block 17 Marappagounder Street

Block 17 Marappagounder Street guideline value

The current guideline value of Block 17 Marappagounder Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 17 Marappagounder Street has changed

The guideline value for Block 17 Marappagounder Street has seen several revisions over the years. The earliest available figure is from 2003, which was Rs 232 per sq.ft. This figure increased significantly to Rs 500 per sq.ft in 2007, marking a 116% rise. The value then doubled to Rs 1,000 per sq.ft in 2012, reflecting a 100% increase. However, it decreased to Rs 670 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and finally, the current value is Rs 1,100 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 374%, indicating substantial growth over the years.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that have a guideline value for 2024, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is the same as the current value for Block 17 Marappagounder Street.

• Block 17 PoosariChennimalai Street 1,2,3 (P.G.Kadu): Rs 1,100 per sq.ft (2024)
• Block 17 E.V.Nanjappa Road: Rs 3,300 per sq.ft (2024)
• Block 17 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 16 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 18 Marappa Gounder Street T.S.80: Rs 1,100 per sq.ft (2024)
• Block 18 Marappa Gounder Street T.S.89: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Marappagounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that the 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 17 Marappagounder Street?

The Sub Registrar Office that covers Block 17 Marappagounder Street 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 additional information.

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

The guideline value is a crucial reference point when buying or selling property in Ward B. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating fees.

When registering a property, it is essential to refer to the guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate market and is an important factor for both buyers and sellers to consider during transactions.

Frequently asked questions

What is the current guideline value of Block 17 Marappagounder Street?

The current guideline value of Block 17 Marappagounder Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 232 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 374% over the years.

What is the land classification for Block 17 Marappagounder Street?

Block 17 Marappagounder Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 17 Marappagounder Street 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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000.