Guideline Value for Block 23 Mettur Road

Block 23 Mettur Road guideline value

The current guideline value for Block 23 Mettur Road in Ward E village under the Erode Joint I SRO is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Block 23 Mettur Road has changed

The guideline value for Block 23 Mettur Road has seen several revisions over the years. In 2002, the value was Rs 431 per sq.ft, which increased to Rs 487 per sq.ft in 2003. Following this, the value rose to Rs 500 per sq.ft in 2007, and then significantly increased to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The current guideline value is Rs 2,750 per sq.ft from the 2024 revision.

Changes between these revisions have varied. From 2002 to 2003, the increase was +13%. The value rose by +3% from 2003 to 2007. The most notable change was a +400% increase from 2007 to 2012. The value then saw a decrease of -33% from 2012 to 2017, followed by a substantial increase of +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a +10% increase, leading to an overall increase of +538% from 2002 to 2024.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 2024 guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Block 23 Mettur Road above that median.

• Block 23 Kulathu Palayam: Rs 771 per sq.ft (2024)
• Block 23 Kaliyankadu Huts: Rs 771 per sq.ft (2024)
• Block 23 Housing Unit (Periyar Nagar): Rs 2,200 per sq.ft (2024)
• Block 23 Govindharaja Street (or) Nagar: Rs 1,100 per sq.ft (2024)
• Block 23 Poyyaerikarai Huts: Rs 771 per sq.ft (2024)
• Block 23 Poyyaerikkarai: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Mettur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 23 Mettur Road?

The Sub Registrar Office that covers Block 23 Mettur Road 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 details.

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

The guideline value is an essential factor during the registration of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is used to assess the applicable duties, ensuring that the transaction is recorded accurately in accordance with government regulations. This ensures transparency and compliance in property dealings.

Frequently asked questions

What is the current guideline value for Block 23 Mettur Road?

The current guideline value for Block 23 Mettur Road is Rs 2,750 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 431 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +538% over the years.

What is the land classification for Block 23 Mettur Road?

Block 23 Mettur Road is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations in this area?

The Erode Joint I Sub Registrar Office handles registrations for Block 23 Mettur Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.