Guideline Value for Block 20 Chennimalai ( or) Muthukumarasamy Street

Block 20 Chennimalai ( or) Muthukumarasamy Street guideline value

The current guideline value of Block 20 Chennimalai ( or) Muthukumarasamy Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 20 Chennimalai ( or) Muthukumarasamy Street has changed

The guideline value for Block 20 Chennimalai ( or) Muthukumarasamy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 275 per sq.ft, which increased to Rs 309 per sq.ft in 2003, marking a change of +12%. The value saw further increases, reaching Rs 400 per sq.ft in 2007, representing a +29% change. By 2012, the value was Rs 750 per sq.ft, an increase of +88% from the previous revision. However, in 2017, the value dropped to Rs 502 per sq.ft, a decrease of -33%. The guideline value then rose significantly to Rs 750 per sq.ft in 2023, and most recently, it has increased to Rs 825 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +200%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median of Rs 1,100 per sq.ft. The guideline value for Block 20 Chennimalai ( or) Muthukumarasamy Street is below this median.

• Block 20 Devaki Street: Rs 825 per sq.ft (2024)
• Block 1 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 20 Marappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 20 N.G.G.O.Colony Street 1 to 8: Rs 825 per sq.ft (2024)
• Block 20 S.K.C.Road: Rs 825 per sq.ft (2024)
• Block 1 Chinnamuthu Street 2: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Chennimalai ( or) Muthukumarasamy Street

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, totaling Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 20 Chennimalai ( or) Muthukumarasamy Street?

The Sub Registrar Office that covers Block 20 Chennimalai ( or) Muthukumarasamy 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 B

The guideline value is a critical factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration of property transactions.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Block 20 Chennimalai ( or) Muthukumarasamy Street?

The current guideline value of Block 20 Chennimalai ( or) Muthukumarasamy Street 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 275 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +200% over this period.

What is the classification of land in Block 20 Chennimalai ( or) Muthukumarasamy Street?

The land classification for Block 20 Chennimalai ( or) Muthukumarasamy Street is Residential Class II Type - II.

Where is the Sub Registrar Office for this street located?

The Erode Joint I Sub Registrar Office is 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, for a property with a guideline value of Rs 8,25,000, the stamp duty at 7% would be Rs 57,750.