Guideline Value for Block 22 Municipality Lane

Block 22 Municipality Lane guideline value

The current guideline value for Block 22 Municipality Lane in Ward C village, under the Erode Joint I SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Block 22 Municipality Lane has changed

The guideline value for Block 22 Municipality Lane has seen several revisions over the years. In 2002, the value was Rs 482 per sq.ft. This increased to Rs 540 per sq.ft in 2003, marking a 12% rise. The value continued to rise to Rs 750 per sq.ft in 2007, an increase of 39%. In 2012, the value was Rs 1,000 per sq.ft, reflecting a 33% decrease from the previous revision. The value then rose to Rs 670 per sq.ft in 2017, which was a 49% increase. The most recent revisions show a rise to Rs 1,000 per sq.ft in 2023 and then to Rs 1,100 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 128%. There are no figures available for any other years for this street in the register.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, indicating that the guideline value for Block 22 Municipality Lane is below this median.

• Block 22 Nethaji Road: Rs 5,500 per sq.ft (2024)
• Block 22 Sengoda Lane: Rs 1,100 per sq.ft (2024)
• Block 22 Brindha Street: Rs 2,750 per sq.ft (2024)
• Block 22 Sengoda Street: Rs 1,100 per sq.ft (2024)
• Block 21 West Kongalamman Kovil Street Part 2: Rs 2,750 per sq.ft (2024)
• Block 22 Subramaniyan Street: Rs 1,375 per sq.ft (2024)

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

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 fees to Rs 99,000. It is important to note that the 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 Municipality Lane?

The Sub Registrar Office that covers Block 22 Municipality Lane 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 plays a crucial role in property transactions in Ward C. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the government and is regularly revised to reflect changes in the property market.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 22 Municipality Lane?

The current guideline value for Block 22 Municipality Lane 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 from Rs 482 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 128% over this period.

What is the registration office for Block 22 Municipality Lane?

The registration office for Block 22 Municipality Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Ward C?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7% of the guideline value.

What are the other streets in Ward C with their guideline values?

Other streets in Ward C have varying guideline values, with rates ranging from Rs 770 to Rs 7,700 per sq.ft. For example, Block 22 Nethaji Road has a guideline value of Rs 5,500 per sq.ft in 2024.