Guideline Value for Block 28 SathiyaMoorthy Theru

Block 28 SathiyaMoorthy Theru guideline value

The current guideline value of Block 28 SathiyaMoorthy Theru is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward D village, under the Erode Joint I SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Block 28 SathiyaMoorthy Theru has changed

The guideline value for Block 28 SathiyaMoorthy Theru has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 392 per sq.ft. In 2007, this value increased to Rs 600 per sq.ft, marking a change of +53%. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting a significant increase of +67%. However, it decreased to Rs 670 per sq.ft in 2017, a drop of -33%. The value then saw a substantial rise to Rs 1,000 per sq.ft in 2023, which was a +49% increase. Currently, the guideline value stands at Rs 1,100 per sq.ft from the 2024 revision, which is a +10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to the current 2024 revision, the guideline value has increased by +181%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging 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 28 SathiyaMoorthy Theru is above this median.

• Block 28 Thuruva Lane: Rs 825 per sq.ft (2024)
• Block 28 Valaiyakara Street: Rs 1,100 per sq.ft (2024)
• Block 28 Ward Road: Rs 770 per sq.ft (2024)
• Block 28 Kuppipalayam Road: Rs 771 per sq.ft (2024)
• Block 29 Agrahara Street: Rs 825 per sq.ft (2024)
• Block 28 Kamatchikadu (Street): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 SathiyaMoorthy Theru

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 be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is essential to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Block 28 SathiyaMoorthy Theru?

The Sub Registrar Office that covers Block 28 SathiyaMoorthy Theru 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 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 of property transactions in Ward D. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market value of the property being registered.

Frequently asked questions

What is the current guideline value of Block 28 SathiyaMoorthy Theru?

The current guideline value of Block 28 SathiyaMoorthy Theru 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 392 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, showing an overall increase of +181% over the years.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Block 28 SathiyaMoorthy Theru?

The Erode Joint I Sub Registrar Office handles registrations for Block 28 SathiyaMoorthy Theru, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

How is the guideline value determined for properties?

The guideline value is determined based on various revisions recorded in the register, reflecting the market conditions and property classifications within the area.