Guideline Value for Block 25 Madhava Krishna Street

Block 25 Madhava Krishna Street guideline value

The current guideline value of Block 25 Madhava Krishna 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Block 25 Madhava Krishna Street has changed

The guideline value for Block 25 Madhava Krishna Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 363 per sq.ft. This increased to Rs 407 per sq.ft in 2003, marking a change of +12%. The value continued to rise, reaching Rs 600 per sq.ft in 2007, an increase of +47%. In 2012, the guideline value was Rs 1,000 per sq.ft, reflecting a significant rise of +67% from the previous revision. However, this value dropped to Rs 670 per sq.ft in 2017, a decrease of -33%. Subsequently, the guideline value increased to Rs 1,000 per sq.ft in 2023, which was a rise of +49%, before reaching the current value of Rs 1,100 per sq.ft in 2024, an increase of +10%.

There are no figures available in the register for the revisions of years not mentioned above for this street. Overall, from 2002 to 2024, the guideline value has increased by +203%.

Guideline values in Ward D

In Ward D, the guideline values for 200 streets under the Erode Joint I SRO range 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 25 Madhava Krishna Street is above this median.

• Block 25 Keerakara Street (or) Marimuthu Street: Rs 825 per sq.ft (2024)
• Block 25 Meera Moydhin Street: Rs 825 per sq.ft (2024)
• Block 25 Mosikeeranar Street 1 2 3 4 5: Rs 825 per sq.ft (2024)
• Block 25 Chella Batsha Street: Rs 1,375 per sq.ft (2024)
• Block 25 Ramasamy Street OR Agasthiyar Street 1,2: Rs 771 per sq.ft (2024)
• Block 25 Balusamy Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 Madhava Krishna Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Block 25 Madhava Krishna Street?

The Sub Registrar Office that covers Block 25 Madhava Krishna 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 plays a crucial role in the registration process when buying or selling property in Ward D. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can impact the overall financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Block 25 Madhava Krishna Street?

The current guideline value of Block 25 Madhava Krishna 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 363 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +203% over this period.

What is the land classification for Block 25 Madhava Krishna Street?

Block 25 Madhava Krishna Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Block 25 Madhava Krishna Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 11,00,000, the stamp duty at 7% would amount to Rs 77,000.