Guideline Value for Block 3 Muthukaruppa Street

Block 3 Muthukaruppa Street guideline value

The current guideline value for Block 3 Muthukaruppa Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class I Type - II.

How the guideline value of Block 3 Muthukaruppa Street has changed

The guideline value for Block 3 Muthukaruppa Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 437 per sq.ft. This value increased to Rs 490 per sq.ft in 2003, marking a 12% rise. Following this, the value saw a slight increase of 2% to reach Rs 500 per sq.ft in 2007. A significant jump occurred in 2012, where the value rose to Rs 1,500 per sq.ft, reflecting a 200% increase from the previous figure. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 278%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 figure, ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 3 Muthukaruppa Street's 2024 figure above that median.

• Block 3 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 3 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 3 Ramasamy Street: Rs 1,650 per sq.ft (2024)
• Block 3 Gandhi Nagar Colony: Rs 2,200 per sq.ft (2024)
• Block 3 E V N Road: Rs 3,300 per sq.ft (2024)
• Block 4 Brough Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Muthukaruppa Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 3 Muthukaruppa Street?

The Sub Registrar Office that covers Block 3 Muthukaruppa 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 in the registration process when buying or selling property in Ward B. 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 sold, the buyer and seller must consider the guideline value to ensure compliance with the registration requirements. This value helps in establishing a fair price for the transaction, ensuring that all parties involved are aware of the financial obligations tied to the property transfer.

Frequently asked questions

What is the current guideline value of Block 3 Muthukaruppa Street?

The current guideline value for Block 3 Muthukaruppa Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 437 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 278% over the years.

What is the registration office for Block 3 Muthukaruppa Street?

The registration office covering Block 3 Muthukaruppa Street 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,48,500.

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

Other streets in Ward B include Block 3 Palaniappa Street at Rs 2,200 per sq.ft, Block 3 Perundurai Road at Rs 4,400 per sq.ft, and Block 3 Ramasamy Street at Rs 1,650 per sq.ft, among others.