Guideline Value for Block 30 Muncipality Road

Block 30 Muncipality Road guideline value

The current guideline value of Block 30 Muncipality Road is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward C village under the Erode Joint I SRO, classified as Residential Class II Type - II.

How the guideline value of Block 30 Muncipality Road has changed

The guideline value for Block 30 Muncipality Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 387 per sq.ft, which increased to Rs 434 per sq.ft in 2003. Following this, the value rose to Rs 500 per sq.ft in 2007, then to Rs 750 per sq.ft in 2012. However, it decreased to Rs 502 per sq.ft in 2017. The value then increased significantly to Rs 750 per sq.ft in 2023, and finally reached Rs 825 per sq.ft in the 2024 revision.

In terms of changes, the guideline value increased by 12% from 2002 to 2003, by 15% from 2003 to 2007, and by 50% from 2007 to 2012. The value saw a decrease of 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, the guideline value has risen by 113% from 2002 to 2024.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with 2024 guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Block 30 Muncipality Road's 2024 figure below that median.

• Block 30 Kamarajar Street: Rs 2,750 per sq.ft (2024)
• Block 30 Kamala Street (or) Kothukara Nalla Street: Rs 825 per sq.ft (2024)
• Block 30 Seeranga Street: Rs 1,100 per sq.ft (2024)
• Block 30 Alagiri Singaiyankar Street: Rs 1,100 per sq.ft (2024)
• Block 30 South Easwaran Kovil Street: Rs 1,375 per sq.ft (2024)
• Block 2 Vinayakar Street 1,2: Rs 772 per sq.ft (2024)

Stamp duty and registration fee for property in Block 30 Muncipality Road

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. 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 30 Muncipality Road?

The Sub Registrar Office that covers Block 30 Muncipality 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 C

The guideline value is a crucial factor when buying or selling property in Ward C, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and reflects the market conditions for properties in the area.

When registering a property, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid to the government. It is essential for both parties involved in the transaction to understand the guideline value to ensure compliance with legal requirements during the sale or purchase process.

Frequently asked questions

What is the current guideline value of Block 30 Muncipality Road?

The current guideline value of Block 30 Muncipality 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 387 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, with several revisions in between. The most significant increase occurred from 2017 to 2023, where it rose by 49%.

What is the registration office for Block 30 Muncipality Road?

The registration office for Block 30 Muncipality Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the 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 property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 at a rate of 7%.

What is the median guideline value for streets in Ward C?

The median guideline value for streets in Ward C is Rs 1,375 per sq.ft, while Block 30 Muncipality Road's current value is below this median at Rs 825 per sq.ft.