Guideline Value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet

Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet guideline value

The current guideline value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet has changed

The guideline value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 518 per sq.ft. This increased to Rs 581 per sq.ft in 2003, followed by a rise to Rs 750 per sq.ft in 2007. The 2012 revision saw the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 1,000 per sq.ft, and finally, the current value is Rs 1,100 per sq.ft from the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is 112%. The value rose by 12% from 2002 to 2003, followed by a 29% increase from 2003 to 2007. The 2007 to 2012 revision saw a decrease of 33%, while the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet is above this median.

• Block 23 Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 23 Court Street (or) Periyar Street: Rs 1,375 per sq.ft (2024)
• Block 22 SouthMuhamadhiyarStreet(or)OoriStreet: Rs 1,100 per sq.ft (2024)
• Block 22 North Muhamadhiyar Lane (or) Pari Street: Rs 1,100 per sq.ft (2024)
• Block 23 NedunSeralathan Theru: Rs 825 per sq.ft (2024)
• Block 23 New Agrahara Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 99,000. It is important to note that 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 WestMuhamadhiyarStreet(or)KalamegamStreet?

The Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet falls under 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 D

The guideline value is a critical factor during property registration in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is utilized to calculate the applicable fees, which are based on the higher of the guideline value or the agreed sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet?

The current guideline value for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet 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 518 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 112% over the years.

What are the stamp duty and registration fees for properties 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 registrations for this street?

The Erode Joint I Sub Registrar Office handles registrations for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet?

The land classification for Block 22 WestMuhamadhiyarStreet(or)KalamegamStreet is Residential Class II Type - I.