Guideline Value for Block 22 Mulakarai

Block 22 Mulakarai guideline value

The current guideline value for Block 22 Mulakarai is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Block 22 Mulakarai has changed

Over the years, the guideline value for Block 22 Mulakarai has seen significant changes. The register shows that in 2002, the value was Rs 138 per sq.ft, which increased to Rs 155 per sq.ft in 2003, marking a 12% rise. From 2003 to 2007, the value rose by 61% to Rs 250 per sq.ft. The 2007 revision to 2012 saw an increase of 100%, bringing the value to Rs 500 per sq.ft. However, from 2012 to 2017, there was a decrease of 33%, resulting in a value of Rs 335 per sq.ft. The 2017 to 2023 period saw a significant increase of 109%, raising the value to Rs 700 per sq.ft. The most recent revision, effective from 2024, has increased the guideline value to Rs 770 per sq.ft, which is a 10% rise from the previous year.

Guideline values in Ward B

In Ward B, there are a total of 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, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 22 Mulakarai is below this median.

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

Stamp duty and registration fee for property in Block 22 Mulakarai

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, making the total charges Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Mulakarai?

The Sub Registrar Office covering Block 22 Mulakarai 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 a crucial factor when registering property transactions in Ward B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buyers and sellers engage in a transaction, the guideline value is referenced to determine the applicable charges. This ensures transparency in the registration process and helps in maintaining a standard valuation across the region.

Frequently asked questions

What is the current guideline value for Block 22 Mulakarai?

The current guideline value for Block 22 Mulakarai is Rs 770 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 138 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 458% over this period.

What are the stamp duty and registration fees for property in Block 22 Mulakarai?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Block 22 Mulakarai?

The Erode Joint I Sub Registrar Office covers Block 22 Mulakarai, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, Coimbatore registration zone.

What is the land classification for Block 22 Mulakarai?

Block 22 Mulakarai is classified as Residential Class III Type - I, indicating its suitability for residential development.