Guideline Value for Block 29 Sundara Moorthy Road

Block 29 Sundara Moorthy Road guideline value

The current guideline value for Block 29 Sundara Moorthy Road is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 29 Sundara Moorthy Road has changed

The guideline value for Block 29 Sundara Moorthy Road has seen several revisions over the years. In 2002, the value was Rs 346 per sq.ft, which increased to Rs 389 per sq.ft in 2003, marking a 12% rise. The value then continued to rise, reaching Rs 600 per sq.ft in 2007, a 54% increase from the previous revision. In 2012, it was Rs 750 per sq.ft, reflecting a 25% increase from 2007, but then dropped to Rs 502 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value rose significantly by 49%, reaching Rs 750 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 825 per sq.ft, an increase of 10% from 2023. Overall, from 2002 to 2024, the guideline value has increased by 138%.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 798 per sq.ft, placing Block 29 Sundara Moorthy Road above this median.

• Block 29 Sathiyamoorthy Street: Rs 1,100 per sq.ft (2024)
• Block 2 Annanagar 1st Street: Rs 771 per sq.ft (2024)
• Block 2 Arumugam Street: Rs 771 per sq.ft (2024)
• Block 29 NedunSeralarathan Theru: Rs 825 per sq.ft (2024)
• Block 29 Kamatchi (Kadu) Street: Rs 770 per sq.ft (2024)
• Block 2 Karungalpalayam Vaykal Marapalam Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 29 Sundara Moorthy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, while the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 29 Sundara Moorthy Road?

The Sub Registrar Office that covers Block 29 Sundara Moorthy Road 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 when buying or selling property in Ward D. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Block 29 Sundara Moorthy Road?

The current guideline value of Block 29 Sundara Moorthy Road is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 346 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, showing an overall increase of 138% over this period.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles the registration of properties in this area?

The Erode Joint I Sub Registrar Office handles the registration of properties in Block 29 Sundara Moorthy Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the process is transparent and consistent in Ward D.