Guideline Value for Block 27 Municipal Street 1 to 2

Block 27 Municipal Street 1 to 2 guideline value

The current guideline value of Block 27 Municipal Street 1 to 2 is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward C of the Erode Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Block 27 Municipal Street 1 to 2 has changed

The guideline value for Block 27 Municipal Street 1 to 2 has seen several revisions over the years. In 2002, the value was Rs 388 per sq.ft, which increased to Rs 435 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 750 per sq.ft in 2007, reflecting a +72% increase. By 2012, the value was Rs 1,250 per sq.ft, which represented a +67% increase from the previous revision. However, this value decreased to Rs 837 per sq.ft in 2017, a decline of -33%. The guideline value then increased to Rs 1,250 per sq.ft in 2023, followed by a further increase to Rs 1,375 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +254%. The register has no figures for the years not listed in this document.

Guideline values in Ward C

In Ward C, the guideline values range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 27 Municipal Street 1 to 2 is equal to this median value.

• Block 27 Kasiannan Street: Rs 1,100 per sq.ft (2024)
• Block 27 Edaiyan Thottam Vasuki Street: Rs 1,925 per sq.ft (2024)
• Block 27 Thillai Nagar: Rs 2,530 per sq.ft (2024)
• Block 28 Bharathiar Street: Rs 1,100 per sq.ft (2024)
• Block 28 Brough Road Main Road Part 1: Rs 4,400 per sq.ft (2024)
• Block 26 Muniappan Kovil Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 Municipal Street 1 to 2

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the guideline value would be Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, totaling Rs 1,23,750. 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 27 Municipal Street 1 to 2?

The Sub Registrar Office that covers Block 27 Municipal Street 1 to 2 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 C

The guideline value is a critical factor when registering property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 27 Municipal Street 1 to 2?

The current guideline value for Block 27 Municipal Street 1 to 2 is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 388 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, showing an overall increase of +254% over the years.

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

For a property valued at Rs 13,75,000, the stamp duty would be Rs 96,250, and the registration fee would be Rs 27,500, totaling Rs 1,23,750.

Which office handles property registration for this street?

The Erode Joint I Sub Registrar Office handles property registration for Block 27 Municipal Street 1 to 2, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 27 Municipal Street 1 to 2?

The land classification for Block 27 Municipal Street 1 to 2 is Residential Class I Type - III.