Guideline Value for Block 32 Manal Medu

Block 32 Manal Medu guideline value

The current guideline value for Block 32 Manal Medu is Rs 771 per sq.ft, effective from 1 July 2024. This area falls under Ward B village, governed by the Erode Joint I SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Block 32 Manal Medu has changed

The guideline value for Block 32 Manal Medu has undergone several revisions over the years. In 2002, the value was Rs 190 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 12% rise. The value then saw a further increase to Rs 250 per sq.ft in 2007, a change of 18%. In 2012, the value rose to Rs 600 per sq.ft, reflecting a significant increase of 140%. However, from 2017 to 2023, the value saw a dramatic increase from Rs 402 per sq.ft to Rs 700 per sq.ft, a rise of 74%. The latest revision in 2024 set the value at Rs 771 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 306%. It is important to note that the register has no figure for this street for the years not listed in the revisions.

Guideline values in Ward B

Ward B consists of 170 streets under the Erode Joint I SRO, with guideline values 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 the 2024 figure for Block 32 Manal Medu below this median.

• Block 32 Goodshed Opp.Huts: Rs 770 per sq.ft (2024)
• Block 32 Muthukumarasamy Road: Rs 1,100 per sq.ft (2024)
• Block 32 E.V.Nanjappa Street: Rs 1,375 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 Manal Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value would be Rs 7,71,000. The stamp duty at 7% would amount to Rs 53,970, and the registration fee at 2% would be Rs 15,420, making the total cost for these charges Rs 69,390. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 32 Manal Medu?

The Sub Registrar Office that covers Block 32 Manal Medu 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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ward B. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Block 32 Manal Medu?

The current guideline value for Block 32 Manal Medu 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 significantly from Rs 190 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, reflecting an overall increase of 306% over the years.

What is the stamp duty for property in Block 32 Manal Medu?

The stamp duty for property in Block 32 Manal Medu is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 7,71,000, the stamp duty would be Rs 53,970.

Where is the Sub Registrar Office for Block 32 Manal Medu located?

The Sub Registrar Office for Block 32 Manal Medu is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What is the median guideline value in Ward B?

The median guideline value in Ward B is Rs 1,100 per sq.ft, with Block 32 Manal Medu's 2024 figure being below this median at Rs 771 per sq.ft.