Guideline Value for Block 3 Marudhaveeran Lane

Block 3 Marudhaveeran Lane guideline value

The current guideline value of Block 3 Marudhaveeran Lane is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 3 Marudhaveeran Lane has changed

The guideline value for Block 3 Marudhaveeran Lane has seen several revisions over the years. In 2002, the guideline value was Rs 123 per sq.ft, which increased to Rs 138 per sq.ft in 2003, marking a change of +12%. Following this, the value rose significantly to Rs 350 per sq.ft in 2007, reflecting a substantial increase of +154%. The value continued to rise to Rs 500 per sq.ft in 2012, which was a +43% change. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, indicating a decline of -33%. The guideline value then surged to Rs 700 per sq.ft in 2023, a remarkable increase of +109%. The most recent revision in 2024 set the value at Rs 770 per sq.ft, which is a +10% change from the previous year.

It is important to note that there are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 shows an increase of +526% in the guideline value.

Guideline values in Ward D

In Ward D, there are 200 streets 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 3 Marudhaveeran Lane is below this median.

• Block 3 Muthukaruppan Lane: Rs 770 per sq.ft (2024)
• Block 3 K.A.S Nagar: Rs 771 per sq.ft (2024)
• Block 3 Vaikkal Marappalam Road: Rs 771 per sq.ft (2024)
• Block 3 Vaiyapuri Lane: Rs 770 per sq.ft (2024)
• Block 4 Arasilango Street: Rs 770 per sq.ft (2024)
• Block 4 Ayyamperumal Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Marudhaveeran Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total charges Rs 69,300. 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 further calculations.

Which Sub Registrar Office covers Block 3 Marudhaveeran Lane?

The Sub Registrar Office that covers Block 3 Marudhaveeran Lane 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 D

The guideline value is a crucial factor in the registration process of property transactions in Ward D. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The guideline value is used to ensure that the transaction is registered at a value that reflects the official rates set by the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Block 3 Marudhaveeran Lane?

The current guideline value of Block 3 Marudhaveeran Lane is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 123 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of +526% over the years.

What is the land classification for Block 3 Marudhaveeran Lane?

Block 3 Marudhaveeran Lane is classified as Residential Class III Type - I.

Where can I find the registration office for this property?

The registration office for Block 3 Marudhaveeran Lane 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 Ward D?

Stamp duty for properties in Ward D is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.