Guideline Value for Block 21 Marappa Gounder Street

Block 21 Marappa Gounder Street guideline value

The current guideline value for Block 21 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 21 Marappa Gounder Street has changed

The guideline value for Block 21 Marappa Gounder Street has undergone several revisions over the years. In 2002, the value was Rs 241 per sq.ft, which increased to Rs 270 per sq.ft in 2003, marking a 12% rise. The value continued to rise to Rs 400 per sq.ft in 2007, an increase of 48%. The following revision in 2012 saw the value at Rs 1,000 per sq.ft, reflecting a significant 150% increase from the previous figure. However, this value decreased to Rs 670 per sq.ft in 2017, showing a decline of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, which then increased to Rs 1,100 per sq.ft in 2024, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 356%. It is important to note that there are no figures available for the revisions from the years not mentioned in the register for this street.

Guideline values in Ward B

Ward B village includes 170 streets under the Erode Joint I SRO, with the 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 1,100 per sq.ft, which is equal to the current guideline value for Block 21 Marappa Gounder Street.

• Block 21 Chenniappa Street: Rs 1,100 per sq.ft (2024)
• Block 22 Awaiyar Street: Rs 771 per sq.ft (2024)
• Block 20 S.K.C.Road: Rs 825 per sq.ft (2024)
• Block 22 Deva street: Rs 770 per sq.ft (2024)
• Block 22 Giramadai 1 to 5: Rs 770 per sq.ft (2024)
• Block 22 Lakhman Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Marappa Gounder Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 21 Marappa Gounder Street?

The Sub Registrar Office covering Block 21 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 information.

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

The guideline value is an essential factor in property transactions within Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value influences the overall cost of the transaction.

When registering a property, the guideline value is compared with the sale price. The higher amount is used to calculate the applicable duties and fees, ensuring that all transactions are in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Block 21 Marappa Gounder Street?

The current guideline value for Block 21 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 from Rs 241 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 356% over this period.

What is the land classification for Block 21 Marappa Gounder Street?

Block 21 Marappa Gounder Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Block 21 Marappa Gounder Street 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 instance, for a property with a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.