Guideline Value for Block 19 New Majith Street

Block 19 New Majith Street guideline value

The current guideline value for Block 19 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 19 New Majith Street has changed

The guideline value for Block 19 New Majith Street has seen several revisions over the years. In 2002, the value was Rs 505 per sq.ft, which increased to Rs 566 per sq.ft in 2003. Following this, the value rose significantly to Rs 750 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it experienced a decline to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 2,750 per sq.ft.

Between the revisions, the most notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a substantial 233% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects an increase of 445%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging 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 19 New Majith Street's 2024 figure above that median.

• Block 19 R.K.Venkatasamy Road: Rs 7,700 per sq.ft (2024)
• Block 19 Hasan Street: Rs 1,375 per sq.ft (2024)
• Block 19 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 19 East Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 1 Cavuery Road Main Road: Rs 825 per sq.ft (2024)
• Block 1 Chokkai Thottam: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 19 New Majith Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 19 New Majith Street?

The Sub Registrar Office covering Block 19 New Majith 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 C

The guideline value serves as a benchmark for property transactions in Ward C. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that the guideline value is crucial for calculating these costs.

When a property is sold, the guideline value helps in ensuring that the transaction is registered at a fair value. It is essential for both parties to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 19 New Majith Street?

The current guideline value for Block 19 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 from Rs 505 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 445% over the years.

What is the median guideline value in Ward C?

The median guideline value for streets in Ward C is Rs 1,375 per sq.ft, with Block 19 New Majith Street's 2024 figure being above this median.

How is the stamp duty calculated for properties in Block 19 New Majith Street?

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

Where is the Sub Registrar Office for Block 19 New Majith Street located?

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