Guideline Value for Block 21 Masuthi Street Part 2

Block 21 Masuthi Street Part 2 guideline value

The current guideline value for Block 21 Masuthi Street Part 2 is Rs 1,375 per sq.ft. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Block 21 Masuthi Street Part 2 has changed

The guideline value for Block 21 Masuthi Street Part 2 has seen several revisions over the years. In 2002, the guideline value was Rs 482 per sq.ft, which increased to Rs 540 per sq.ft in 2003, marking a change of +12%. The value continued to rise to Rs 750 per sq.ft in 2007, reflecting a +39% increase. By 2012, the value was Rs 1,250 per sq.ft, which was a significant increase of +67% from the previous revision. However, it then decreased to Rs 837 per sq.ft in 2017, showing a decline of -33%.

From 2017 to 2023, the guideline value increased to Rs 1,250 per sq.ft, and then further to Rs 1,375 per sq.ft in the 2024 revision, marking a +49% increase. Overall, from 2002 to 2024, the guideline value has increased by +185%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value is Rs 1,375 per sq.ft, which is the same as the guideline value for Block 21 Masuthi Street Part 2. Below are the guideline values for other streets in Ward C:

• Block 21 Nethaji Street Part 2: Rs 5,500 per sq.ft (2024)
• Block 21 East Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 21 Sultan Pettai Street Part 2: Rs 1,375 per sq.ft (2024)
• Block 20 West Kongalamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Block 20 Venkatasalam Street: Rs 2,750 per sq.ft (2024)
• Block 21 West Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Masuthi Street Part 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, leading to a total of Rs 1,23,750. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 21 Masuthi Street Part 2?

The Sub Registrar Office covering Block 21 Masuthi Street Part 2 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 C

The guideline value is an essential factor during property registration in Ward C. It determines the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a baseline for the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Block 21 Masuthi Street Part 2?

The current guideline value of Block 21 Masuthi Street Part 2 is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 482 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, showing an overall increase of +185% across the revisions.

What is the land classification for Block 21 Masuthi Street Part 2?

Block 21 Masuthi Street Part 2 is classified as Residential Class I Type - III under the Erode Joint I SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,23,750.

Where is the Sub Registrar Office for Block 21 Masuthi Street Part 2 located?

The Sub Registrar Office for Block 21 Masuthi Street Part 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.