Guideline Value for Block 23 Sathiya Moorthy Street

Block 23 Sathiya Moorthy Street guideline value

The current guideline value for Block 23 Sathiya Moorthy Street 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 23 Sathiya Moorthy Street has changed

The guideline value for Block 23 Sathiya Moorthy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 518 per sq.ft, which increased to Rs 581 per sq.ft in 2003, marking a 12% rise. The value then saw a 29% increase to Rs 750 per sq.ft in 2007, followed by a 33% increase to Rs 1,000 per sq.ft in 2012. However, there was a decrease of 33% in 2017, bringing the value down to Rs 670 per sq.ft. The guideline value then increased significantly to Rs 1,000 per sq.ft in 2023, and most recently, it has risen by 10% to Rs 1,100 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 112%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that have 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 23 Sathiya Moorthy Street is above this median.

• Block 24 Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 23 New Agrahara Street: Rs 1,100 per sq.ft (2024)
• Block 23 NedunSeralathan Theru: Rs 825 per sq.ft (2024)
• Block 24 Jayaram Sandhu: Rs 770 per sq.ft (2024)
• Block 24 Kamatchi Kadu (Street): Rs 770 per sq.ft (2024)
• Block 24 Kuppipalam Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Sathiya Moorthy Street

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 amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees 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 Sathiya Moorthy Street?

The Sub Registrar Office that covers Block 23 Sathiya Moorthy Street 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 D

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

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for Block 23 Sathiya Moorthy Street?

The current guideline value for Block 23 Sathiya Moorthy Street 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, reflecting an overall increase of 112% over this period.

What are the stamp duty and registration fees for property in Block 23 Sathiya Moorthy Street?

For a 1,000 sq.ft plot, the total guideline value would be 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 the registration for Block 23 Sathiya Moorthy Street?

The Erode Joint I Sub Registrar Office handles the registration for Block 23 Sathiya Moorthy Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 23 Sathiya Moorthy Street?

Block 23 Sathiya Moorthy Street is classified as Residential Class II Type - I under the Erode Joint I SRO.