Guideline Value for Block 22 Chinnamuthu Street -3 2nd Part

Block 22 Chinnamuthu Street -3 2nd Part guideline value

The current guideline value for Block 22 Chinnamuthu Street -3 2nd Part is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward A village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 22 Chinnamuthu Street -3 2nd Part has changed

The guideline value for Block 22 Chinnamuthu Street -3 2nd Part has seen several revisions over the years. In 2002, the guideline value was Rs 105 per sq.ft, which increased to Rs 420 per sq.ft in 2003, marking a significant rise of 300%. Following this, the value rose to Rs 500 per sq.ft in 2007, reflecting a 19% increase. The value then increased to Rs 750 per sq.ft in 2012, showcasing a 50% rise. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, indicating a decline of 33%. The value then rose to Rs 750 per sq.ft in 2023, which was a 49% increase from the previous revision. Finally, in 2024, the guideline value reached Rs 825 per sq.ft, marking a 10% increase from 2023.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 shows an increase of 686% in the guideline value.

Guideline values in Ward A

In Ward A, there are 111 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 22 Chinnamuthu Street -3 2nd Part below this median.

• Block 21 Thiyagi Kumaran Street (or) Municipal Colony Street: Rs 1,100 per sq.ft (2024)
• Block 21 Thiru.V.K.Road: Rs 1,375 per sq.ft (2024)
• Block 22 Pappathi Kadu 1 & 2: Rs 771 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 Thiru V.K.Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Chinnamuthu Street -3 2nd Part

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty, charged at 7%, would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total fees Rs 74,250. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Block 22 Chinnamuthu Street -3 2nd Part?

The Sub Registrar Office that covers Block 22 Chinnamuthu Street -3 2nd Part is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in Ward A.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and consistent across different properties in the area.

Frequently asked questions

What is the current guideline value for Block 22 Chinnamuthu Street -3 2nd Part?

The current guideline value for Block 22 Chinnamuthu Street -3 2nd Part 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 105 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, showing an overall increase of 686%.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 22 Chinnamuthu Street -3 2nd Part is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located?

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How can I calculate the registration fees?

You can calculate the registration fees using the stamp duty and registration fee calculator, which helps in determining the fees based on the guideline value.