Guideline Value for Block 38 Muthurangam Street

Block 38 Muthurangam Street guideline value

The current guideline value of Block 38 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 38 Muthurangam Street has changed

The guideline value for Block 38 Muthurangam Street has seen 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. Following that, the value rose by 25% to Rs 2,000 per sq.ft in 2007. The next revision in 2012 saw a significant increase of 50%, bringing the value to Rs 3,000 per sq.ft. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and most recently, it has risen by 10% to the current rate of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 132%. There are no figures for the revisions in years not listed in the register for this street.

Guideline values in Ward C

In Ward C, there are a total of 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, with a median value of Rs 1,375 per sq.ft. The guideline value for Block 38 Muthurangam Street is above this median.

• Block 38 Cutcheri Street: Rs 4,400 per sq.ft (2024)
• Block 38 Nethaji Road: Rs 4,400 per sq.ft (2024)
• Block 38 Brough Road: Rs 5,500 per sq.ft (2024)
• Block 38 Prakasham Street: Rs 3,300 per sq.ft (2024)
• Block 38 Annaji Street: Rs 3,300 per sq.ft (2024)
• Block 37 Sivashanmugam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 38 Muthurangam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 38 Muthurangam Street?

The Sub Registrar Office that covers Block 38 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 information.

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 the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Block 38 Muthurangam Street?

The current guideline value of Block 38 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 the period.

What is the stamp duty for a property in Block 38 Muthurangam Street?

The stamp duty for a property in Block 38 Muthurangam Street is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,31,000.

Which office handles registrations for properties in Ward C?

The Erode Joint I Sub Registrar Office handles registrations for properties in Ward C, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors such as land classification and location. It is revised periodically to reflect changes in the real estate market.