Guideline Value for Block 3 Muthukaruppan Lane

Block 3 Muthukaruppan Lane guideline value

The current guideline value of Block 3 Muthukaruppan 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 Muthukaruppan Lane has changed

The guideline value for Block 3 Muthukaruppan Lane has undergone several revisions over the years. In 2002, it was set at Rs 156 per sq.ft. This increased to Rs 176 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 250 per sq.ft in 2007, showing an increase of +42%. In 2012, the value changed to Rs 500 per sq.ft, reflecting a significant increase of +100%. However, in 2017, it dropped to Rs 335 per sq.ft, indicating a decrease of -33%. The value then increased to Rs 700 per sq.ft in 2023, with a change of +109%. The latest revision in 2024 has set the guideline value at Rs 770 per sq.ft, representing a +10% increase from the previous year.

It is important to note that there are no figures available for revisions in years not listed. The overall change from 2002 to 2024 is an increase of +394% in the guideline value per sq.ft.

Guideline values in Ward D

In Ward D, there are 200 streets under the Erode Joint I SRO with a guideline value for 2024 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 3 Muthukaruppan Lane's 2024 figure below that median.

• Block 3 Marudhaveeran 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 Muthukaruppan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important 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 more details.

Which Sub Registrar Office covers Block 3 Muthukaruppan Lane?

The Sub Registrar Office that covers Block 3 Muthukaruppan 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 an essential factor during the registration of property transactions in Ward D. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the established value of the property.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property for registration purposes. This ensures transparency and consistency in the property registration process.

Frequently asked questions

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

The current guideline value of Block 3 Muthukaruppan 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 from Rs 156 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +394% over the years.

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

For a property with a guideline value of Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Block 3 Muthukaruppan Lane?

The Erode Joint I Sub Registrar Office is responsible for handling registrations for Block 3 Muthukaruppan Lane, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009.

What is the land classification for Block 3 Muthukaruppan Lane?

Block 3 Muthukaruppan Lane is classified as Residential Class III Type - I, indicating its intended use for residential purposes.