Guideline Value for Block 18 Marappa Gounder Street T.S.80

Block 18 Marappa Gounder Street T.S.80 guideline value

The current guideline value for Block 18 Marappa Gounder Street T.S.80 is Rs 1,100 per sq.ft. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Block 18 Marappa Gounder Street T.S.80 has changed

The guideline value for Block 18 Marappa Gounder Street T.S.80 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 242 per sq.ft. This increased to Rs 272 per sq.ft in 2003, marking a 12% rise. In 2007, the value jumped significantly to Rs 400 per sq.ft, reflecting a 47% increase. The 2012 revision saw the value remain at Rs 1,000 per sq.ft, which was a 150% increase from the previous figure. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%.

From 2017 to 2023, the guideline value increased substantially to Rs 1,000 per sq.ft, representing a 49% rise. The latest revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from the 2023 figure. The overall change from 2002 to 2024 shows an increase of 355%.

Guideline values in Ward B

Ward B under the Erode Joint I SRO has a total of 170 streets with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this ward is Rs 1,100 per sq.ft, which matches the current value for Block 18 Marappa Gounder Street T.S.80.

• Block 18 Marappa Gounder Street T.S.89: Rs 1,100 per sq.ft (2024)
• Block 18 N.G.G.O.Colony Street 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 18 Poosari Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 18 S.K.C.Road (or) Street: Rs 1,100 per sq.ft (2024)
• Block 17 S.K.Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 17 PoosariChennimalai Street 1,2,3 (P.G.Kadu): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 Marappa Gounder Street T.S.80

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, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 18 Marappa Gounder Street T.S.80?

The Sub Registrar Office that covers Block 18 Marappa Gounder Street T.S.80 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ward B. 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 buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 18 Marappa Gounder Street T.S.80?

The current guideline value for Block 18 Marappa Gounder Street T.S.80 is Rs 1,100 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 242 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 355%.

What is the land classification for Block 18 Marappa Gounder Street T.S.80?

Block 18 Marappa Gounder Street T.S.80 is classified as Residential Class II Type - I.

Where can I find the registration office for this property?

The registration office for Block 18 Marappa Gounder Street T.S.80 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 11,00,000, the stamp duty would be 7% of that amount.