Guideline Value for Block 4 Madurai Veran Kovil Sandhu

Block 4 Madurai Veran Kovil Sandhu guideline value

The current guideline value for Block 4 Madurai Veran Kovil Sandhu is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward D village, under the Erode Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Block 4 Madurai Veran Kovil Sandhu has changed

The guideline value for Block 4 Madurai Veran Kovil Sandhu has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 138 per sq.ft. This increased to Rs 150 per sq.ft in 2007, and then to Rs 300 per sq.ft in 2012. By 2017, the value had risen to Rs 335 per sq.ft, followed by a significant jump to Rs 700 per sq.ft in 2023. The latest revision in 2024 sets the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 458%. The register has no figure for this street in 2002.

Guideline values in Ward D

In Ward D, there are 200 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 798 per sq.ft, placing Block 4 Madurai Veran Kovil Sandhu below this median.

• Block 4 Kumanan Street: Rs 770 per sq.ft (2024)
• Block 4 Palani Lane: Rs 770 per sq.ft (2024)
• Block 4 Parasuraman Lane: Rs 770 per sq.ft (2024)
• Block 4 Sekkizhar Street: Rs 770 per sq.ft (2024)
• Block 4 Chinna Mariamman Koil Street: Rs 770 per sq.ft (2024)
• Block 4 Thoppai ya Lane: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 4 Madurai Veran Kovil Sandhu

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 4 Madurai Veran Kovil Sandhu?

The Sub Registrar Office that covers Block 4 Madurai Veran Kovil Sandhu 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 further assistance.

How the guideline value is used when you buy or sell in Ward D

The guideline value is a crucial factor when registering property transactions in Ward D. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When buyers or sellers engage in property transactions, the guideline value helps to determine the official value of the property for registration purposes. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Block 4 Madurai Veran Kovil Sandhu?

The current guideline value for Block 4 Madurai Veran Kovil Sandhu is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 138 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 458%.

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

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 4 Madurai Veran Kovil Sandhu, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 4 Madurai Veran Kovil Sandhu?

The land classification for Block 4 Madurai Veran Kovil Sandhu is Residential Class III Type - I.