Guideline Value for Block 17 New Masjith Street

Block 17 New Masjith Street guideline value

The current guideline value of Block 17 New Masjith 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 and is classified as Commercial Class I Type - III.

How the guideline value of Block 17 New Masjith Street has changed

The guideline value for Block 17 New Masjith Street has seen several revisions over the years. In 2003, the value was Rs 538 per sq.ft, which increased to Rs 750 per sq.ft in 2007. The 2012 revision saw a jump to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 2,750 per sq.ft. Notably, there is no figure available for the 2002 revision for this street.

Examining the changes between revisions, from 2003 to 2007, there was an increase of 39%. The value then surged by 233% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of 33%. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 411%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a guideline value range from Rs 770 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Block 17 New Masjith Street's 2024 figure above this median.

• Block 17 Ottukara Chinnaian Street: Rs 1,100 per sq.ft (2024)
• Block 17 Park Street: Rs 2,750 per sq.ft (2024)
• Block 17 Bhavani Street: Rs 1,375 per sq.ft (2024)
• Block 17 A.P.Thangavel Chettiar Street: Rs 2,750 per sq.ft (2024)
• Block 18 Cauvery Road Main Road: Rs 5,500 per sq.ft (2024)
• Block 18 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 New Masjith 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, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 17 New Masjith Street?

The Sub Registrar Office that covers Block 17 New Masjith 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 a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the latest revisions. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Block 17 New Masjith Street?

The current guideline value of Block 17 New Masjith 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 from Rs 538 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 411% over this period.

What is the land classification of Block 17 New Masjith Street?

Block 17 New Masjith Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at the rate of 7%.