Guideline Value for Block 2 E.C.Muthusamy Gounder Lay-out

Block 2 E.C.Muthusamy Gounder Lay-out guideline value

The current guideline value for Block 2 E.C.Muthusamy Gounder Lay-out is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 2 E.C.Muthusamy Gounder Lay-out has changed

The guideline value for Block 2 E.C.Muthusamy Gounder Lay-out has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023 and further rose to Rs 1,100 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Ward E

In Ward E, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as of 2024, with a median value of Rs 825 per sq.ft. The guideline value for Block 2 E.C.Muthusamy Gounder Lay-out is above this median.

• Block 2 Chidambaram colony: Rs 1,925 per sq.ft (2024)
• Block 2 Muthusamy Gounder Lane: Rs 825 per sq.ft (2024)
• Block 2 Muthusamy Gounder Street (Athiyaman Street): Rs 825 per sq.ft (2024)
• Block 29 Railway Colony: Rs 771 per sq.ft (2024)
• Block 29 Old Railway Station Road: Rs 771 per sq.ft (2024)
• Block 29 Nethaji Road: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 E.C.Muthusamy Gounder Lay-out

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 2 E.C.Muthusamy Gounder Lay-out?

The Sub Registrar Office that covers Block 2 E.C.Muthusamy Gounder Lay-out 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 details.

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

When buying or selling property in Ward E, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered.

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

Frequently asked questions

What is the current guideline value for Block 2 E.C.Muthusamy Gounder Lay-out?

The current guideline value for Block 2 E.C.Muthusamy Gounder Lay-out 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Ward E and their guideline values?

Other streets in Ward E have varying guideline values. For example, Block 2 Chidambaram colony is Rs 1,925 per sq.ft, while Block 2 Muthusamy Gounder Lane and Block 2 Muthusamy Gounder Street (Athiyaman Street) are both Rs 825 per sq.ft.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office for Block 2 E.C.Muthusamy Gounder Lay-out is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at 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.