Guideline Value for Block 31 Goodshed huts

Block 31 Goodshed huts guideline value

The current guideline value for Block 31 Goodshed huts is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward B village, under the Erode Joint I SRO, and is classified as Residential Class II Type - III.

How the guideline value of Block 31 Goodshed huts has changed

The guideline value for Block 31 Goodshed huts has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, representing a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 700 per sq.ft, marking an increase of 74%. The most recent revision in 2024 set the guideline value at Rs 771 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 29%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 31 Goodshed huts is below this median.

• Block 31 Chennimalai Road: Rs 1,100 per sq.ft (2024)
• Block 31 Manal Medu: Rs 771 per sq.ft (2024)
• Block 31 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)
• Block 31 Perumal Kadu: Rs 771 per sq.ft (2024)
• Block 30 Perumal kadu: Rs 771 per sq.ft (2024)
• Block 30 Muthukumarasamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 31 Goodshed huts

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total to Rs 69,390. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 31 Goodshed huts?

The Sub Registrar Office that covers Block 31 Goodshed huts 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 details.

How the guideline value is used when you buy or sell in Ward B

The guideline value plays a crucial role in property transactions in Ward B. It is used to calculate the stamp duty and registration fees that are payable when registering a property. Buyers and sellers should be aware that the guideline value is a key factor in determining the costs associated with property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Block 31 Goodshed huts?

The current guideline value for Block 31 Goodshed huts is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 771 per sq.ft in 2024.

What is the land classification for Block 31 Goodshed huts?

Block 31 Goodshed huts is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Block 31 Goodshed huts 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 Ward B?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.