Guideline Value for Block 34 N.M.S. Layout

Block 34 N.M.S. Layout guideline value

The current guideline value of Block 34 N.M.S. Layout 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, classified as Residential Special Type - I.

How the guideline value of Block 34 N.M.S. Layout has changed

The guideline value for Block 34 N.M.S. Layout has seen several revisions since 2002. The 2002 revision recorded a value of Rs 719 per sq.ft, which increased to Rs 806 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 1,250 per sq.ft in 2007, reflecting a significant increase of +55%. Following this, the 2012 revision set the value at Rs 2,000 per sq.ft, showing a growth of +60% from the previous figure. However, the 2017 revision saw a decrease to Rs 1,340 per sq.ft, a drop of -33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, an increase of +10%.

Overall, from the 2002 revision to the current 2024 figure, there has been a total increase of +206%. It is important to note that the register has no figures for the years not mentioned in the provided data.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry 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 34 N.M.S. Layout's 2024 figure above that median.

• Block 34 N.M.S. Compound: Rs 2,200 per sq.ft (2024)
• Block 34 Sivanachariar Road: Rs 2,750 per sq.ft (2024)
• Block 34 Kamarajar Street Part 1: Rs 2,750 per sq.ft (2024)
• Block 34 Thiruvenkatasamy Street: Rs 2,750 per sq.ft (2024)
• Block 34 Easwaran Kovil Street Part 1: Rs 4,400 per sq.ft (2024)
• Block 35 Brough Road Part 1: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block 34 N.M.S. Layout

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, together totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 34 N.M.S. Layout?

The Sub Registrar Office that covers Block 34 N.M.S. Layout 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 information.

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, as it determines the amount of stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that the guideline value is used as a basis for these fees, ensuring that the transaction is registered correctly with the local authorities.

When a property is sold, the guideline value helps in establishing a fair price for the transaction. It is essential for both parties to understand how the guideline value affects the overall costs associated with the sale, including any additional fees that may arise during the registration process.

Frequently asked questions

What is the current guideline value for Block 34 N.M.S. Layout?

The current guideline value for Block 34 N.M.S. Layout 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 significantly from Rs 719 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of +206% over the years.

What are the stamp duty and registration fees for property in this area?

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, totaling Rs 1,98,000.

Which Sub Registrar Office handles transactions for Block 34 N.M.S. Layout?

The Erode Joint I Sub Registrar Office handles transactions for Block 34 N.M.S. Layout, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value determined for properties in Ward C?

The guideline value for properties in Ward C is determined by the local authorities and is based on various factors, including land classification and recent revisions in property values. It serves as a benchmark for calculating stamp duty and registration fees during property transactions.