Guideline Value for Block 17 Municipal Street

Block 17 Municipal Street guideline value

The current guideline value of Block 17 Municipal Street is Rs 771 per sq.ft. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 17 Municipal Street has changed

The guideline value for Block 17 Municipal Street has seen several revisions over the years. In 2002, the guideline value was Rs 221 per sq.ft. This increased to Rs 250 per sq.ft in 2003, reflecting a change of +13%. The value continued to rise, reaching Rs 350 per sq.ft in 2007, which was a +40% increase from the previous revision. By 2012, the value was Rs 500 per sq.ft, showing an increase of +43% from 2007. However, the value decreased to Rs 335 per sq.ft in 2017, marking a decline of -33%. The value then rose significantly to Rs 700 per sq.ft in 2023, reflecting a +109% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 771 per sq.ft, which is a +10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by +249%. There are no figures available for any other revisions for this street.

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 in this area is Rs 825 per sq.ft, placing Block 17 Municipal Street's 2024 figure below that median.

• Block 17 Kadhar Moydhin Street: Rs 771 per sq.ft (2024)
• Block 17 Kadhar Moydhin Lane: Rs 771 per sq.ft (2024)
• Block 17 Railway Station Street: Rs 825 per sq.ft (2024)
• Block 17 Jeevanandham Street Main Road: Rs 1,100 per sq.ft (2024)
• Block 17 Rajaji Street: Rs 825 per sq.ft (2024)
• Block 17 E.V. Ramasamy Street: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 Municipal Street?

The Sub Registrar Office that covers Block 17 Municipal 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 information.

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

The guideline value is an important factor when registering property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications of the transaction. It is essential for buyers and sellers to understand the guideline value to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value of Block 17 Municipal Street is Rs 771 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 221 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of +249% over the years.

What is the land classification of Block 17 Municipal Street?

Block 17 Municipal Street is classified as Residential Class III Type - I.

Where can I find the registration office for Block 17 Municipal Street?

The registration office for Block 17 Municipal Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for property in Block 17 Municipal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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 69,390.