Guideline Value for Block 32 Goodshed Opp.Huts

Block 32 Goodshed Opp.Huts guideline value

The current guideline value for Block 32 Goodshed Opp.Huts is Rs 770 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 III Type - I.

How the guideline value of Block 32 Goodshed Opp.Huts has changed

The guideline value for Block 32 Goodshed Opp.Huts has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which increased to Rs 335 per sq.ft in 2017. Following this, the value rose significantly to Rs 700 per sq.ft in 2023, marking a 109% increase from the 2017 figure. The most recent revision in 2024 has further increased the value to Rs 770 per sq.ft, indicating a 10% rise from the previous year.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 93%.

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 32 Goodshed Opp.Huts is below this median.

• Block 32 E.V.Nanjappa Street: Rs 1,375 per sq.ft (2024)
• Block 32 Manal Medu: Rs 771 per sq.ft (2024)
• Block 32 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)
• Block 32 Chennimalai Road: Rs 1,100 per sq.ft (2024)
• Block 31 Perumal Kadu: Rs 771 per sq.ft (2024)
• Block 31 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 32 Goodshed Opp.Huts

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, totaling 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 information.

Which Sub Registrar Office covers Block 32 Goodshed Opp.Huts?

The Sub Registrar Office that covers Block 32 Goodshed Opp.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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the transaction is recorded accurately, reflecting the property's worth according to the latest revisions. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value for Block 32 Goodshed Opp.Huts?

The current guideline value for Block 32 Goodshed Opp.Huts is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 400 per sq.ft to Rs 770 per sq.ft in 2024, marking an overall increase of 93%.

What is the classification of the land for Block 32 Goodshed Opp.Huts?

Block 32 Goodshed Opp.Huts is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for this property located?

The Sub Registrar Office for Block 32 Goodshed Opp.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 property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.