Guideline Value for Block 2 Chinnamuthu Street 1 Main Road

Block 2 Chinnamuthu Street 1 Main Road guideline value

The current guideline value for Block 2 Chinnamuthu Street 1 Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Block 2 Chinnamuthu Street 1 Main Road has changed

The guideline value for Block 2 Chinnamuthu Street 1 Main Road has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 447 per sq.ft. This increased to Rs 501 per sq.ft in the 2003 revision, marking a change of +12%. The 2007 revision saw a significant rise to Rs 1,500 per sq.ft, which is an increase of +199% from the previous year. The 2012 revision brought the value down to Rs 2,500 per sq.ft, reflecting a decrease of -33%.

In the following revisions, the guideline value continued to rise. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a +49% increase from the 2012 figure. The 2023 revision further increased the value to Rs 2,500 per sq.ft. Finally, the current 2024 revision has established the guideline value at Rs 2,750 per sq.ft, a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +515%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Block 2 Chinnamuthu Street 1 Main Road above this median.

• Block 2 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 29 Perumal kadu: Rs 771 per sq.ft (2024)
• Block 2 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 29 Muthukumarasamy Street: Rs 1,100 per sq.ft (2024)
• Block 29 Manal Medu: Rs 771 per sq.ft (2024)
• Block 30 Chennimalai Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Chinnamuthu Street 1 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 2 Chinnamuthu Street 1 Main Road?

The Sub Registrar Office that covers Block 2 Chinnamuthu Street 1 Main Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. To find your SRO, you can visit find your SRO.

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 minimum price at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 2 Chinnamuthu Street 1 Main Road?

The current guideline value for Block 2 Chinnamuthu Street 1 Main Road 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 447 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +515% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers this street?

The Erode Joint I Sub Registrar Office covers Block 2 Chinnamuthu Street 1 Main Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 2 Chinnamuthu Street 1 Main Road?

The land classification for Block 2 Chinnamuthu Street 1 Main Road is Commercial Class I Type - III.