Guideline Value for Block 37 Muthurangam Street

Block 37 Muthurangam Street guideline value

The current guideline value of Block 37 Muthurangam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward C village, under the Erode Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Block 37 Muthurangam Street has changed

The guideline value for Block 37 Muthurangam Street has undergone several revisions over the years. In 2002, the value was Rs 1,424 per sq.ft, which increased to Rs 1,595 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, a 25% increase from the previous revision. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 50% increase from 2007. However, it saw a significant drop to Rs 2,010 per sq.ft in 2017, a decrease of 33%.

In 2023, the guideline value increased to Rs 3,000 per sq.ft, and then it rose again to Rs 3,300 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 132% 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 value for these streets is Rs 1,375 per sq.ft, placing Block 37 Muthurangam Street's 2024 figure above this median.

• Block 37 Cutcheri Street: Rs 4,400 per sq.ft (2024)
• Block 37 Nethaji Street: Rs 4,400 per sq.ft (2024)
• Block 37 Annaji Street: Rs 3,300 per sq.ft (2024)
• Block 37 Pon Street: Rs 4,400 per sq.ft (2024)
• Block 36 Thiruvenkata Street: Rs 3,300 per sq.ft (2024)
• Block 37 Prakasham Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 37 Muthurangam Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 37 Muthurangam Street?

The Sub Registrar Office that covers Block 37 Muthurangam Street 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 C

The guideline value is a crucial factor in the registration process when buying or selling property in Ward C. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block 37 Muthurangam Street?

The current guideline value of Block 37 Muthurangam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,424 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 132% over this period.

What are the stamp duty and registration fees for property in Block 37 Muthurangam Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value of Rs 33,00,000.

Which office handles registrations for Block 37 Muthurangam Street?

The Erode Joint I Sub Registrar Office handles registrations for Block 37 Muthurangam Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating the applicable stamp duty and registration fees during property transactions.