Guideline Value for Block 19 Chinnamuthu Street

Block 19 Chinnamuthu Street guideline value

The current guideline value of Block 19 Chinnamuthu Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 19 Chinnamuthu Street has changed

The guideline value for Block 19 Chinnamuthu Street has seen several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased significantly to Rs 398 per sq.ft in 2003. This marked an increase of 279%. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a 26% increase from the previous revision. In 2012, the value was Rs 1,000 per sq.ft, reflecting a substantial increase of 100% from 2007. However, it then decreased by 33% to Rs 670 per sq.ft in 2017. The value rose again to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 948%. The register has no figures for the years between the revisions mentioned above.

Guideline values in Ward A

Ward A consists of 111 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 19 Chinnamuthu Street's 2024 figure below that median.

• Block 18 Vasugi Street (or) Edayan Kattu Thottam: Rs 1,375 per sq.ft (2024)
• Block 18 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 19 E.V.Najappa Road Inside: Rs 2,750 per sq.ft (2024)
• Block 19 E.V.Nanjappa Road: Rs 6,600 per sq.ft (2024)
• Block 18 Sait Colony: Rs 2,750 per sq.ft (2024)
• Block 19 Municipal Colony Road 1 to 5: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 Chinnamuthu 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 be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 19 Chinnamuthu Street?

The Sub Registrar Office that covers Block 19 Chinnamuthu 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ward A. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Block 19 Chinnamuthu Street?

The current guideline value of Block 19 Chinnamuthu 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 from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 948% over the years.

What is the land classification for Block 19 Chinnamuthu Street?

Block 19 Chinnamuthu Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 19 Chinnamuthu Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 99,000 in fees.