Guideline Value for Block 33 N.M.S.Compound

Block 33 N.M.S.Compound guideline value

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

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

The guideline value for Block 33 N.M.S.Compound has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 719 per sq.ft. This increased to Rs 806 per sq.ft in 2003, followed by a rise to Rs 1,000 per sq.ft in 2007. The value then saw a significant increase to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision raised it to Rs 2,000 per sq.ft, and the most recent 2024 revision set the value at Rs 2,200 per sq.ft.

Between these revisions, there have been notable changes. From 2002 to 2003, the increase was +12%. The value rose by +24% from 2003 to 2007, followed by a substantial +100% increase from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 saw an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +206%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, making the 2024 figure for Block 33 N.M.S.Compound above that median.

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

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

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

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

The Sub Registrar Office that covers Block 33 N.M.S.Compound 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 C

The guideline value is a crucial factor when buying or selling property in Ward C. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When engaging in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value for Block 33 N.M.S.Compound 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 this period.

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

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

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

The Sub Registrar Office for Block 33 N.M.S.Compound is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000.