Guideline Value for Block 22 Municipal Lane

Block 22 Municipal Lane guideline value

The current guideline value of Block 22 Municipal Lane is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 22 Municipal Lane has changed

The guideline value for Block 22 Municipal Lane has undergone several revisions over the years. The earliest recorded figure is Rs 198 per sq.ft from the 2002 revision. This increased to Rs 224 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 350 per sq.ft in 2007, reflecting a +56% increase. In 2012, the guideline value was adjusted to Rs 500 per sq.ft, which was a +43% change. However, this value decreased to Rs 335 per sq.ft in 2017, indicating a -33% change. The 2023 revision saw a significant increase to Rs 700 per sq.ft, which was a +109% rise. Finally, the current guideline value of Rs 771 per sq.ft was set in 2024, representing a +10% increase from the previous year.

There are no figures available for the revisions in years other than those listed above. The overall change from 2002 to 2024 is +289%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 22 Municipal Lane is below this median.

• Block 22 Nallappa Gounder Street: Rs 772 per sq.ft (2024)
• Block 22 Karuppa Gounder Street: Rs 772 per sq.ft (2024)
• Block 22 Rasa Gounder Kadu: Rs 825 per sq.ft (2024)
• Block 22 Rasa Gounder Lane: Rs 772 per sq.ft (2024)
• Block 22 Rasa Gounder Street: Rs 825 per sq.ft (2024)
• Block 22 Chithambaram Chettiar Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Municipal Lane

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 22 Municipal Lane?

The Sub Registrar Office that covers Block 22 Municipal Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during property transactions in Ward E. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Block 22 Municipal Lane?

The current guideline value of Block 22 Municipal Lane is Rs 771 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 198 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of +289%.

What are the stamp duty and registration fees for a property in Block 22 Municipal Lane?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would be Rs 69,390, calculated based on the guideline value of Rs 7,71,000.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 22 Municipal Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification of Block 22 Municipal Lane?

Block 22 Municipal Lane is classified as Residential Class III Type - I, indicating its designated use for residential purposes.