Guideline Value for Block 2 Arumugam Street

Block 2 Arumugam Street guideline value

The current guideline value of Block 2 Arumugam Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class II Type - III.

How the guideline value of Block 2 Arumugam Street has changed

The guideline value for Block 2 Arumugam Street has undergone several revisions over the years. In 2003, the guideline value was Rs 209 per sq.ft, which increased to Rs 250 per sq.ft in 2007. The value then saw a significant rise to Rs 600 per sq.ft in 2012, but it dropped to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 700 per sq.ft, with the latest revision in 2024 marking a further increase to Rs 771 per sq.ft.

Notably, the changes between revisions show a +20% increase from 2003 to 2007, followed by a +140% rise to 2012. However, there was a -33% decrease from 2012 to 2017. The value then increased by +74% from 2017 to 2023, and the most recent revision reflects a +10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +269%.

Guideline values in Ward D

In Ward D, the guideline values range from Rs 770 to Rs 7,700 per sq.ft as per the 2024 revision, with a median value of Rs 798 per sq.ft. The guideline value of Block 2 Arumugam Street is below this median.

• Block 2 Annanagar 1st Street: Rs 771 per sq.ft (2024)
• Block 29 Sundara Moorthy Road: Rs 825 per sq.ft (2024)
• Block 29 Sathiyamoorthy Street: Rs 1,100 per sq.ft (2024)
• Block 29 NedunSeralarathan Theru: Rs 825 per sq.ft (2024)
• Block 2 Karungalpalayam Vaykal Marapalam Road: Rs 825 per sq.ft (2024)
• Block 2 K.A.S Nagar: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Arumugam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total cost for these fees to Rs 69,390. It is important to note that 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 2 Arumugam Street?

The Sub Registrar Office that covers Block 2 Arumugam 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 D

The guideline value is a crucial factor during property transactions in Ward D. It serves as a base for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers should be aware that the guideline value is used to determine the official value of the property for taxation purposes.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 2 Arumugam Street?

The current guideline value of Block 2 Arumugam Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 209 per sq.ft to Rs 771 per sq.ft in 2024, reflecting an overall increase of +269% over the years.

What is the land classification for Block 2 Arumugam Street?

Block 2 Arumugam Street is classified as Residential Class II Type - III.

Where can I find the registration office for this street?

The registration office for Block 2 Arumugam 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 7,71,000, the stamp duty at 7% would be Rs 53,970.