Guideline Value for Block 27 Muthukumarasamy Road

Block 27 Muthukumarasamy Road guideline value

The current guideline value of Block 27 Muthukumarasamy Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Block 27 Muthukumarasamy Road has changed

The guideline value for Block 27 Muthukumarasamy Road has undergone several revisions over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 309 per sq.ft in 2003, marking a 12% rise. The value saw a significant jump to Rs 750 per sq.ft in 2007, reflecting a 143% increase. By 2012, the value was revised to Rs 1,000 per sq.ft, which was a decrease of 33% from the previous revision. In 2017, the value rose again to Rs 670 per sq.ft, and then it increased to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 300%. It is important to note that there are no figures for any other revisions for this street in the register.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 6,600 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current value of Block 27 Muthukumarasamy Road.

• Block 27 Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Block 27 K.A.S.Anna Nagar: Rs 770 per sq.ft (2024)
• Block 27 Goodshed Guts: Rs 771 per sq.ft (2024)
• Block 27 E.V.Nanjappa Street: Rs 1,375 per sq.ft (2024)
• Block 27 Stoney Bridge huts: Rs 770 per sq.ft (2024)
• Block 26 S.K.Chenniappa Gounder Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 27 Muthukumarasamy Road

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 the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 27 Muthukumarasamy Road?

The Sub Registrar Office that covers Block 27 Muthukumarasamy 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 B

The guideline value is a crucial factor in the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is assessed to ensure that the correct fees are calculated. Buyers and sellers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring compliance with the local regulations.

Frequently asked questions

What is the current guideline value for Block 27 Muthukumarasamy Road?

The current guideline value for Block 27 Muthukumarasamy Road 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 275 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing a total increase of 300% over the years.

What is the land classification for Block 27 Muthukumarasamy Road?

Block 27 Muthukumarasamy Road is classified as Residential Class II Type - I under the Erode Joint I SRO.

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

The Sub Registrar Office for Block 27 Muthukumarasamy Road 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?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.