Guideline Value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street

Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street guideline value

The current guideline value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street has changed

The guideline value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft. This increased significantly to Rs 598 per sq.ft in 2003, marking a change of +470%. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which was an increase of +25%. In 2012, the value was Rs 1,000 per sq.ft, reflecting a +33% change from the previous revision. However, it decreased to Rs 670 per sq.ft in 2017, a drop of -33%. The guideline value then rose to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +948%. The register has no figure for this street in the years not mentioned above.

Guideline values in Ward A

In Ward A, there are 111 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 value of Rs 1,375 per sq.ft. The guideline value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street is below this median.

• Block 21 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 22 Chinnamuthu Street -3 2nd Part: Rs 825 per sq.ft (2024)
• Block 21 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 21 Chinnamuthu Street Main Road: Rs 1,375 per sq.ft (2024)
• Block 22 Pappathi Kadu 1 & 2: Rs 771 per sq.ft (2024)
• Block 20 Varanavasi Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Thiyagi Kumaran Street (or) Municipal Colony 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 to Rs 99,000. 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 Thiyagi Kumaran Street (or) Municipal Colony Street?

The Sub Registrar Office that covers Block 21 Thiyagi Kumaran Street (or) Municipal Colony 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 A

The guideline value is an essential factor when buying or selling property in Ward A. It determines the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is used as a reference point for these fees, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value helps in establishing a fair basis for taxation. It is important for both buyers and sellers to understand this value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street?

The current guideline value for Block 21 Thiyagi Kumaran Street (or) Municipal Colony 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 from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +948% over the years.

What is the land classification for this street?

Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street is classified as Residential Class II Type - I.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for this street?

The Erode Joint I Sub Registrar Office is responsible for the registration of properties in Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.