Guideline Value for Block 29 Muthukumarasamy Street

Block 29 Muthukumarasamy Street guideline value

The current guideline value of Block 29 Muthukumarasamy Street 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Block 29 Muthukumarasamy Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure was then revised in 2017 to Rs 670 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 increased the value to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The significant changes include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

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 guideline value of Block 29 Muthukumarasamy Street.

• Block 29 Manal Medu: Rs 771 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 Muthukumarasamy Street

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 amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, together totaling Rs 99,000. The 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 further assistance.

Which Sub Registrar Office covers Block 29 Muthukumarasamy Street?

The Sub Registrar Office that covers Block 29 Muthukumarasamy 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 more information.

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

The guideline value is a crucial factor during property registration in Ward B. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring compliance with the registration norms.

Frequently asked questions

What is the current guideline value of Block 29 Muthukumarasamy Street?

The current guideline value of Block 29 Muthukumarasamy Street 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 seen several changes: it was Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, increased to Rs 1,000 per sq.ft in 2023, and is now Rs 1,100 per sq.ft in 2024.

What is the land classification for this street?

Block 29 Muthukumarasamy Street is classified under Residential Class II Type - I.

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

The Sub Registrar Office for Block 29 Muthukumarasamy Street 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?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 77,000 based on the current guideline value.