Guideline Value for Block 33 N.M.S. Lay out

Block 33 N.M.S. Lay out guideline value

The current guideline value for Block 33 N.M.S. Lay out is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Ward C village, under the Erode Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Block 33 N.M.S. Lay out has changed

The guideline value for Block 33 N.M.S. Lay out has seen several revisions over the years. In 2002, the guideline value was Rs 719 per sq.ft. This increased to Rs 806 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, which was a 24% increase. By 2012, the guideline value was Rs 2,000 per sq.ft, reflecting a significant 100% increase from the previous revision.

In 2017, the guideline value decreased to Rs 1,340 per sq.ft, a drop of 33%. However, from 2017 to 2023, it increased to Rs 2,000 per sq.ft, a notable 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. There are no figures available for any other years for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, placing Block 33 N.M.S. Lay out above this median.

• Block 33 N.M.S.Compound: Rs 2,200 per sq.ft (2024)
• Block 33 Ramasamy Street: Rs 1,100 per sq.ft (2024)
• Block 33 Easwaran Kovil Street Lane: Rs 1,925 per sq.ft (2024)
• Block 33 Sathy (or) Veerapathira Road: Rs 2,750 per sq.ft (2024)
• Block 33 Easwaran Kovil Street: Rs 4,400 per sq.ft (2024)
• Block 33 Sengoda Street Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 33 N.M.S. Lay out

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block 33 N.M.S. Lay out?

The Block 33 N.M.S. Lay out falls under 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 C

The guideline value is a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block 33 N.M.S. Lay out?

The current guideline value for Block 33 N.M.S. Lay out is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 719 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Block 33 N.M.S. Lay out?

The land classification for Block 33 N.M.S. Lay out is Residential Special Type - I.

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

The Sub Registrar Office covering Block 33 N.M.S. Lay out is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.