Guideline Value for Block 24 Chinnamuthu Street (Main Road)1st Part

Block 24 Chinnamuthu Street (Main Road)1st Part guideline value

The current guideline value for Block 24 Chinnamuthu Street (Main Road)1st Part is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward A village under the Erode Joint I SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Block 24 Chinnamuthu Street (Main Road)1st Part has changed

The guideline value for Block 24 Chinnamuthu Street (Main Road)1st Part has seen significant changes over the years. In 2002, the guideline value was Rs 105 per sq.ft, which increased to Rs 760 per sq.ft in 2003, marking a substantial rise of 624%. Following this, the value rose to Rs 900 per sq.ft in 2007, an increase of 18%. However, from 2007 to 2012, the value decreased to Rs 1,500 per sq.ft, reflecting a decline of 33%. In 2017, the value again increased to Rs 1,005 per sq.ft, but it saw a notable jump to Rs 1,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,471%.

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. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 24 Chinnamuthu Street (Main Road)1st Part above this median.

• Block 23 Thiru V.K.Road: Rs 1,100 per sq.ft (2024)
• Block 24 Krishnasamy Street: Rs 1,100 per sq.ft (2024)
• Block 23 Pappathi Kadu: Rs 771 per sq.ft (2024)
• Block 23 Krishnasamy Street: Rs 825 per sq.ft (2024)
• Block 23 Chinnamuthu Street 3 Main Road: Rs 1,100 per sq.ft (2024)
• Block 25 Chinnamuthu Street Main Road 1st Part: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Chinnamuthu Street (Main Road)1st Part

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Block 24 Chinnamuthu Street (Main Road)1st Part?

The Sub Registrar Office that covers Block 24 Chinnamuthu Street (Main Road)1st Part is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Ward A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Block 24 Chinnamuthu Street (Main Road)1st Part?

The current guideline value for Block 24 Chinnamuthu Street (Main Road)1st Part is Rs 1,650 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 105 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,471% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty at 7% is Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Block 24 Chinnamuthu Street (Main Road)1st Part?

The Erode Joint I Sub Registrar Office covers Block 24 Chinnamuthu Street (Main Road)1st Part, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the median guideline value in Ward A?

The median guideline value in Ward A is Rs 1,375 per sq.ft, which means that Block 24 Chinnamuthu Street (Main Road)1st Part's value of Rs 1,650 per sq.ft is above this median.