Guideline Value for Block 24 Muthukumarasamypillai Main Road

Block 24 Muthukumarasamypillai Main Road guideline value

The current guideline value for Block 24 Muthukumarasamypillai Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, and the land classification is Mixed Type - I.

How the guideline value of Block 24 Muthukumarasamypillai Main Road has changed

The guideline value for Block 24 Muthukumarasamypillai Main Road has undergone several revisions over the years. The earliest recorded guideline value in 2002 was Rs 574 per sq.ft. This figure increased to Rs 649 per sq.ft in 2003, marking a 13% rise. In 2007, the value saw a significant jump to Rs 750 per sq.ft, which was a 16% increase from the previous revision. The 2012 revision recorded a value of Rs 2,300 per sq.ft, reflecting a substantial increase of 207% from 2007. However, this figure decreased by 33% to Rs 1,541 per sq.ft in 2017.

Following the 2017 revision, the guideline value rose to Rs 2,300 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, which is a 10% increase from 2023. It is important to note that there are no figures available for the revisions in years other than those mentioned.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 24 Muthukumarasamypillai Main Road is above this median.

• Block 24 Mettur Road (or) E.V. Nanjappa Road: Rs 2,750 per sq.ft (2024)
• Block 24 Kunikadu Karimedu (or) Kalliyangadu: Rs 771 per sq.ft (2024)
• Block 24 Huts (Goodshed Opposite side): Rs 771 per sq.ft (2024)
• Block 24 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 24 Easwaran Pillai Street: Rs 771 per sq.ft (2024)
• Block 25 Bala Subbarayalu Naidu Street: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Muthukumarasamypillai Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, leading to a total of Rs 2,27,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 24 Muthukumarasamypillai Main Road?

The Sub Registrar Office that covers Block 24 Muthukumarasamypillai 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 E

The guideline value is a crucial factor in the registration process when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate fees based on the value of the transaction, reflecting the property's worth in the local market.

Frequently asked questions

What is the current guideline value for Block 24 Muthukumarasamypillai Main Road?

The current guideline value for Block 24 Muthukumarasamypillai Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 574 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 341% over the years.

What is the median guideline value in Ward E?

The median guideline value in Ward E is Rs 825 per sq.ft, with Block 24 Muthukumarasamypillai Main Road's 2024 value being above this median.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Block 24 Muthukumarasamypillai Main Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.