Guideline Value for Block 29 Manal Medu

Block 29 Manal Medu guideline value

The current guideline value for Block 29 Manal Medu is Rs 771 per sq.ft, effective from 1 July 2024. This area 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 29 Manal Medu has changed

The guideline value for Block 29 Manal Medu has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in 2023. The most recent revision in 2024 has seen the guideline value rise to Rs 771 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 74%. The overall change from 2012 to 2024 shows an increase of 29%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ward B

In Ward B, there are a total of 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, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 29 Manal Medu is below this median.

• Block 29 Muthukumarasamy Street: Rs 1,100 per sq.ft (2024)
• Block 29 Perumal kadu: Rs 771 per sq.ft (2024)
• Block 29 Chennimalai Road: Rs 1,100 per sq.ft (2024)
• Block 2 Brough Road: Rs 6,600 per sq.ft (2024)
• Block 2 Chinnamuthu Street 1 Main Road: Rs 2,750 per sq.ft (2024)
• Block 28 Santhankarukku: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 29 Manal Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 29 Manal Medu?

The Sub Registrar Office covering Block 29 Manal Medu 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Ward B. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Block 29 Manal Medu?

The current guideline value for Block 29 Manal Medu 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 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 771 per sq.ft in 2024.

What is the registration office for Block 29 Manal Medu?

The registration office for Block 29 Manal Medu is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in Block 29 Manal Medu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 53,970.

What are the other streets in Ward B with their guideline values?

Other streets in Ward B include Block 29 Muthukumarasamy Street at Rs 1,100 per sq.ft, Block 29 Perumal kadu at Rs 771 per sq.ft, and Block 29 Chennimalai Road at Rs 1,100 per sq.ft, among others.