Guideline Value for Block 26 Muthu Kumarasamy Street

Block 26 Muthu Kumarasamy Street guideline value

The current guideline value of Block 26 Muthu Kumarasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Block 26 Muthu Kumarasamy Street has changed

The guideline value for Block 26 Muthu Kumarasamy Street has undergone several revisions over the years. The earliest recorded value was Rs 629 per sq.ft in 2003, which increased to Rs 750 per sq.ft in 2007. Following that, the value rose to Rs 1,000 per sq.ft in 2012, before dropping to Rs 670 per sq.ft in 2017. The value then saw a significant increase to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in the 2024 revision. It is important to note that the register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The 2024 revision shows a 10% increase from the previous year. Overall, the guideline value has increased by 75% from 2003 to 2024.

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 26 Muthu Kumarasamy Street is above this median.

• Block 26 Perumpallam Huts: Rs 825 per sq.ft (2024)
• Block 26 Poondhurai Road: Rs 1,100 per sq.ft (2024)
• Block 26 Sathankaruku 1 2 3: Rs 771 per sq.ft (2024)
• Block 27 Mettur Road (or) E.V. Nanjappa Road: Rs 1,650 per sq.ft (2024)
• Block 25 Thanga Perumal Pillai Street: Rs 825 per sq.ft (2024)
• Block 25 Shek Dhavudh Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 26 Muthu Kumarasamy 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, while 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 and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 26 Muthu Kumarasamy Street?

The Sub Registrar Office that covers Block 26 Muthu Kumarasamy Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is crucial during the registration process of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations associated with the transaction. Buyers and sellers should ensure they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Block 26 Muthu Kumarasamy Street?

The current guideline value of Block 26 Muthu Kumarasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 629 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 75% over this period.

What are the stamp duty and registration fees for a property here?

For a property valued at the current guideline value of Rs 1,100 per sq.ft, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 for a 1,000 sq.ft plot.

Which Sub Registrar Office is responsible for this area?

The Erode Joint I Sub Registrar Office is responsible for Block 26 Muthu Kumarasamy Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 26 Muthu Kumarasamy Street?

The land classification for Block 26 Muthu Kumarasamy Street is Residential Class II Type - I.