Guideline Value for Block 18 New Majith Street

Block 18 New Majith Street guideline value

The current guideline value of Block 18 New Majith 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 18 New Majith Street has changed

The guideline value for Block 18 New Majith Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 505 per sq.ft. This increased to Rs 566 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 77% change. The 2012 revision recorded a decrease to Rs 2,500 per sq.ft, a drop of 150%. However, the value rebounded to Rs 1,675 per sq.ft in 2017, showing a 33% increase from the previous revision. The most recent revisions in 2023 and 2024 reflect an increase from Rs 2,500 per sq.ft to Rs 2,750 per sq.ft, a rise of 10%.

There are no figures available for revisions in years other than those specified. The overall change from 2002 to 2024 is an increase of 445%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 18 New Majith Street is above this median.

• Block 18 Kandasamy Street: Rs 2,750 per sq.ft (2024)
• Block 18 Sultan Pettai Street: Rs 2,750 per sq.ft (2024)
• Block 18 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 18 Cauvery Road Main Road: Rs 5,500 per sq.ft (2024)
• Block 18 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 19 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 18 New Majith Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 18 New Majith Street?

The Sub Registrar Office that covers Block 18 New Majith 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 C

The guideline value plays a crucial role during property registration in Ward C. It is the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when a property transaction occurs. This ensures that the fees are standardized and reflect the official valuation of properties in the area.

When buying or selling property, it is important to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is updated periodically, so staying informed about these changes is essential for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Block 18 New Majith Street?

The current guideline value of Block 18 New Majith 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 from Rs 505 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 445%.

What is the land classification for Block 18 New Majith Street?

Block 18 New Majith Street is classified as Commercial Class I Type - III.

Where can I find the registration office for Block 18 New Majith Street?

The registration office for Block 18 New Majith 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 properties in Block 18 New Majith Street?

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