Guideline Value for Block 28 Manal medu Street

Block 28 Manal medu Street guideline value

The current guideline value of Block 28 Manal medu Street is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - III.

How the guideline value of Block 28 Manal medu Street has changed

The guideline value of Block 28 Manal medu Street has undergone several revisions over the years. In 2002, the guideline value was Rs 273 per sq.ft. This increased to Rs 306 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a 63% increase from the previous figure. In 2012, the value changed to Rs 600 per sq.ft, reflecting a 20% increase. However, from 2012 to 2017, the value dropped to Rs 402 per sq.ft, a decrease of 33%. The guideline value then rose significantly to Rs 700 per sq.ft in 2023, a 74% increase, and finally reached Rs 771 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the revisions of the years not mentioned in the register for this street.

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 guideline value for these streets is Rs 1,100 per sq.ft, positioning Block 28 Manal medu Street below this median.

• Block 28 Keeramadai 7: Rs 770 per sq.ft (2024)
• Block 28 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 28 Santhankarukku: Rs 771 per sq.ft (2024)
• Block 28 Gramadai 1 to 5: Rs 771 per sq.ft (2024)
• Block 28 Dhanakodi Layout: Rs 771 per sq.ft (2024)
• Block 27 Stoney Bridge huts: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Manal medu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees to Rs 69,390. It is important to note that 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 more information.

Which Sub Registrar Office covers Block 28 Manal medu Street?

The Sub Registrar Office that covers Block 28 Manal medu 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ward B. It is used to calculate the stamp duty and registration fees that must be paid during the registration process. The guideline value serves as a reference point for determining the official value of the property being transacted.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value for Block 28 Manal medu Street?

The current guideline value for Block 28 Manal medu Street is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 273 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 182% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block 28 Manal medu Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

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

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers must pay these fees based on the higher value between the guideline and the sale price.