Guideline Value for Block 24 Huts (Goodshed Opposite side)

Block 24 Huts (Goodshed Opposite side) guideline value

The current guideline value for Block 24 Huts (Goodshed Opposite side) is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 24 Huts (Goodshed Opposite side) has changed

The guideline value for Block 24 Huts has seen several revisions over the years. In 2003, the value was Rs 124 per sq.ft, which increased to Rs 200 per sq.ft in 2007. Following this, the value rose to Rs 300 per sq.ft in 2012, and then to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 700 per sq.ft, and the latest revision in 2024 has increased it to Rs 771 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

Examining the changes, the value increased by 61% from 2003 to 2007, followed by a 50% rise from 2007 to 2012. The increase from 2012 to 2017 was 12%, and a significant jump of 109% occurred from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has risen by 522%.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft. The median value in this area is Rs 825 per sq.ft, indicating that the 2024 figure for Block 24 Huts is below this median.

• Block 24 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 24 Easwaran Pillai Street: Rs 771 per sq.ft (2024)
• Block 24 Kunikadu Karimedu (or) Kalliyangadu: Rs 771 per sq.ft (2024)
• Block 24 Mettur Road (or) E.V. Nanjappa Road: Rs 2,750 per sq.ft (2024)
• Block 24 Muthukumarasamypillai Main Road: Rs 2,530 per sq.ft (2024)
• Block 23 Poyyaerikkarai: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Huts (Goodshed Opposite side)

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total charges Rs 69,390. 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 details.

Which Sub Registrar Office covers Block 24 Huts (Goodshed Opposite side)?

The Sub Registrar Office that covers Block 24 Huts (Goodshed Opposite side) 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 E

The guideline value is a crucial factor during the registration process of property transactions in Ward E. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Block 24 Huts?

The current guideline value for Block 24 Huts (Goodshed Opposite side) is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 124 per sq.ft in 2003 to Rs 771 per sq.ft in 2024, reflecting a total increase of 522% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,970, and the registration fee would be Rs 15,420, leading to a total of Rs 69,390.

Which office handles registrations for Block 24 Huts?

The Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone, handles registrations for Block 24 Huts.

What is the land classification for Block 24 Huts?

Block 24 Huts is classified as Residential Class III Type - I, indicating its suitability for residential purposes.