Guideline Value for Block 2 Muthusamy Gounder Lane

Block 2 Muthusamy Gounder Lane guideline value

The current guideline value of Block 2 Muthusamy Gounder Lane is Rs 825 per sq.ft, effective from 1 July 2024. This lane is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 2 Muthusamy Gounder Lane has changed

The guideline value for Block 2 Muthusamy Gounder Lane has seen several revisions over the years. In 2002, the value was Rs 359 per sq.ft, which increased to Rs 406 per sq.ft in 2003. The value continued to rise, reaching Rs 500 per sq.ft in 2007, and then Rs 750 per sq.ft in 2012. However, it dropped to Rs 502 per sq.ft in 2017 before increasing significantly to Rs 750 per sq.ft in 2023. The most recent revision in 2024 saw the guideline value rise to Rs 825 per sq.ft.

Between these revisions, the changes were as follows: from 2002 to 2003, there was an increase of 13%; from 2003 to 2007, it rose by 23%; from 2007 to 2012, there was a 50% increase; from 2012 to 2017, it decreased by 33%; and from 2017 to 2023, it increased by 49%. Finally, the jump from 2023 to 2024 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 130%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for this area is Rs 825 per sq.ft, which is equal to the guideline value for Block 2 Muthusamy Gounder Lane.

• Block 2 Muthusamy Gounder Street (Athiyaman Street): Rs 825 per sq.ft (2024)
• Block 2 E.C.Muthusamy Gounder Lay-out: Rs 1,100 per sq.ft (2024)
• Block 2 Chidambaram colony: Rs 1,925 per sq.ft (2024)
• Block 2 S.K. Chenniappa Gounder Road: Rs 1,650 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)

Stamp duty and registration fee for property in Block 2 Muthusamy Gounder Lane

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the 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, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 2 Muthusamy Gounder Lane?

The Block 2 Muthusamy Gounder Lane falls under 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 E

The guideline value is a crucial reference point when buying or selling property in Ward E. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property registration.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions while providing a transparent framework for buyers and sellers.

Frequently asked questions

What is the current guideline value of Block 2 Muthusamy Gounder Lane?

The current guideline value of Block 2 Muthusamy Gounder Lane 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 359 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, with several revisions in between.

What is the land classification for Block 2 Muthusamy Gounder Lane?

Block 2 Muthusamy Gounder Lane is classified as Residential Class II Type - II.

Where is the Sub Registrar Office for Block 2 Muthusamy Gounder Lane located?

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

How is the stamp duty calculated for properties in Block 2 Muthusamy Gounder Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 74,250.