Guideline Value for Block 7 Mandapam Street

Block 7 Mandapam Street guideline value

The current guideline value of Block 7 Mandapam Street is Rs 1,375 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Block 7 Mandapam Street has changed

The guideline value for Block 7 Mandapam Street has seen several revisions over the years. The earliest recorded revision was in 2002, with a value of Rs 467 per sq.ft. In 2003, the value increased to Rs 528 per sq.ft, marking a 13% rise. The subsequent revisions were as follows: in 2007, the value rose to Rs 750 per sq.ft, an increase of 42%; in 2012, it went up to Rs 1,250 per sq.ft, a significant 67% increase; however, in 2017, it dropped to Rs 837 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 saw the value increase to Rs 1,250 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 1,375 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 194%. There are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Ward E

Within Ward E, there are 196 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Block 7 Mandapam Street is above this median.

• Block 7 Cutcheri Street: Rs 1,650 per sq.ft (2024)
• Block 7 Court Street (or) Periyar Street: Rs 1,100 per sq.ft (2024)
• Block 7 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 7 Oppanakara Street (Kundhavai Street): Rs 771 per sq.ft (2024)
• Block 7 Pzhallakkara Street (Seedhakadhi Street): Rs 1,100 per sq.ft (2024)
• Block 7 Azath Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Mandapam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, bringing the total fees to Rs 1,23,750. 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 7 Mandapam Street?

The Sub Registrar Office that covers Block 7 Mandapam 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 E

The guideline value is a critical factor in property transactions in Ward E. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees applicable for the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall costs involved in the property transaction. The registration process requires that the property be registered at or above the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Block 7 Mandapam Street?

The current guideline value of Block 7 Mandapam Street is Rs 1,375 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 467 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, marking an overall increase of 194% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,23,750.

Which office handles the registration for Block 7 Mandapam Street?

The Erode Joint I Sub Registrar Office handles the registration for Block 7 Mandapam Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 7 Mandapam Street?

Block 7 Mandapam Street is classified as Residential Class I Type - III under the Erode Joint I SRO.