Guideline Value for Block 20 Marappa Gounder Street

Block 20 Marappa Gounder Street guideline value

The current guideline value of Block 20 Marappa Gounder Street is Rs 1,100 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 - I.

How the guideline value of Block 20 Marappa Gounder Street has changed

The guideline value for Block 20 Marappa Gounder Street has seen several revisions over the years. In 2002, the value was Rs 260 per sq.ft, which increased to Rs 292 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 400 per sq.ft in 2007, reflecting a 37% increase. Following this, the value jumped significantly to Rs 1,000 per sq.ft in 2012, a 150% increase. However, it decreased to Rs 670 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 323%. There are no figures available for the revisions in years other than those listed above.

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. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current figure for Block 20 Marappa Gounder Street.

• Block 20 Devaki Street: Rs 825 per sq.ft (2024)
• Block 20 N.G.G.O.Colony Street 1 to 8: Rs 825 per sq.ft (2024)
• Block 20 Chennimalai ( or) Muthukumarasamy Street: Rs 825 per sq.ft (2024)
• Block 20 S.K.C.Road: Rs 825 per sq.ft (2024)
• Block 1 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 21 Chenniappa Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 20 Marappa Gounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be 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, bringing the total cost for these fees to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 20 Marappa Gounder Street?

The Sub Registrar Office that covers Block 20 Marappa Gounder 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 details.

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

The guideline value is an important factor in the registration process when buying or selling property in Ward B. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the transaction is appropriately valued for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Block 20 Marappa Gounder Street?

The current guideline value of Block 20 Marappa Gounder Street 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 significantly, starting from Rs 260 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 323%.

What is the land classification for Block 20 Marappa Gounder Street?

Block 20 Marappa Gounder Street is classified as Residential Class II Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 99,000.

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

The Sub Registrar Office for Block 20 Marappa Gounder Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.