Guideline Value for Block 23 Chinnamuthu Street 3 Main Road

Block 23 Chinnamuthu Street 3 Main Road guideline value

The current guideline value for Block 23 Chinnamuthu Street 3 Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under Ward A village and is classified as Residential Class II Type - I. The relevant registration office is the Erode Joint I SRO.

How the guideline value of Block 23 Chinnamuthu Street 3 Main Road has changed

The guideline value for Block 23 Chinnamuthu Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 105 per sq.ft. This figure increased significantly to Rs 420 per sq.ft in 2003, marking a 300% increase. The value then rose to Rs 500 per sq.ft in 2007, which was a 19% increase. The 2012 revision saw a jump to Rs 1,000 per sq.ft, reflecting a 100% increase from the previous revision. However, between 2017 and 2023, the value increased to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the guideline value increased by 49%, moving from Rs 670 per sq.ft to Rs 1,000 per sq.ft. Overall, the guideline value has increased by 948% from the 2002 figure to the current 2024 figure. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ward A

In Ward A, there are 111 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 1,375 per sq.ft. The guideline value for Block 23 Chinnamuthu Street is below this median.

• Block 22 Thiru V.K.Street: Rs 1,100 per sq.ft (2024)
• Block 23 Krishnasamy Street: Rs 825 per sq.ft (2024)
• Block 23 Pappathi Kadu: Rs 771 per sq.ft (2024)
• Block 22 Pappathi Kadu 1 & 2: Rs 771 per sq.ft (2024)
• Block 23 Thiru V.K.Road: Rs 1,100 per sq.ft (2024)
• Block 24 Chinnamuthu Street (Main Road)1st Part: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Chinnamuthu Street 3 Main Road

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, making the total charges 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 23 Chinnamuthu Street 3 Main Road?

The Sub Registrar Office that covers Block 23 Chinnamuthu Street 3 Main Road 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 A

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

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Block 23 Chinnamuthu Street 3 Main Road?

The current guideline value for Block 23 Chinnamuthu Street 3 Main Road 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 increased from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 948% over this period.

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

The stamp duty rate for properties in Block 23 Chinnamuthu Street is 7% of the guideline value or sale price, whichever is higher.

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.

What are the other guideline values in Ward A?

In Ward A, other streets have varying guideline values, with rates ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 1,375 per sq.ft.