Guideline Value for Block 2 Karungalpalayam Vaykal Marapalam Road

Block 2 Karungalpalayam Vaykal Marapalam Road guideline value

The current guideline value for Block 2 Karungalpalayam Vaykal Marapalam Road is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 2 Karungalpalayam Vaykal Marapalam Road has changed

The guideline value for Block 2 Karungalpalayam Vaykal Marapalam Road has undergone several revisions over the years. In 2002, the guideline value was Rs 223 per sq.ft, which increased to Rs 250 per sq.ft in 2003. Following this, the value rose to Rs 350 per sq.ft in 2007, and then significantly increased to Rs 750 per sq.ft in 2012. However, the value dropped to Rs 502 per sq.ft in 2017, before climbing back to Rs 750 per sq.ft in 2023. The latest revision in 2024 saw the value rise to Rs 825 per sq.ft.

In terms of percentage changes, the value increased by 12% from 2002 to 2003, followed by a 40% rise from 2003 to 2007. The value then saw a dramatic increase of 114% from 2007 to 2012, but experienced a decline of 33% from 2012 to 2017. There was a significant increase of 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 270%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 2 Karungalpalayam Vaykal Marapalam Road is above this median.

• Block 2 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 2 New Cauvery Road: Rs 771 per sq.ft (2024)
• Block 2 Arumugam Street: Rs 771 per sq.ft (2024)
• Block 2 Ponnusamy Theru: Rs 770 per sq.ft (2024)
• Block 2 Annanagar 1st Street: Rs 771 per sq.ft (2024)
• Block 29 Sundara Moorthy Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 2 Karungalpalayam Vaykal Marapalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. 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 2 Karungalpalayam Vaykal Marapalam Road?

The Sub Registrar Office that covers Block 2 Karungalpalayam Vaykal Marapalam Road 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 when registering property transactions in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on the latest revisions. This value is essential for calculating the applicable fees during the registration process.

Frequently asked questions

What is the current guideline value for Block 2 Karungalpalayam Vaykal Marapalam Road?

The current guideline value for Block 2 Karungalpalayam Vaykal Marapalam Road is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 223 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 270% over the years.

What is the land classification for this property?

The land classification for Block 2 Karungalpalayam Vaykal Marapalam Road is Residential Class II Type - II.

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

The Sub Registrar Office for Block 2 Karungalpalayam Vaykal Marapalam Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 8,25,000 would incur a stamp duty of Rs 57,750 at 7%.