Guideline Value for Block 7 Mosuvana Street

Block 7 Mosuvana Street guideline value

The current guideline value of Block 7 Mosuvana Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward B village under the Erode Joint I SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Block 7 Mosuvana Street has changed

The guideline value for Block 7 Mosuvana Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 275 per sq.ft, which increased to Rs 309 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 400 per sq.ft in 2007, an increase of +29%. Following that, the 2012 revision set the value at Rs 750 per sq.ft, reflecting an increase of +88%. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft, a decrease of -33%. The 2023 revision saw the value rise to Rs 750 per sq.ft, and the most recent 2024 revision established the current value at Rs 825 per sq.ft, a change of +10%.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +200%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 6,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Block 7 Mosuvana Street is below this median.

• Block 7 Mosuvana Lane: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Lane: Rs 825 per sq.ft (2024)
• Block 7 Mosuvana Kadu: Rs 825 per sq.ft (2024)
• Block 7 Muthusamy Street (or) Athiyanan Street: Rs 825 per sq.ft (2024)
• Block 7 Perumal Street: Rs 825 per sq.ft (2024)
• Block 7 Chinnappa Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost for these fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 7 Mosuvana Street?

The Sub Registrar Office that covers Block 7 Mosuvana Street 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 more details.

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

The guideline value is a critical factor when registering property transactions in Ward B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set a competitive price that reflects the current market conditions.

Frequently asked questions

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

The current guideline value of Block 7 Mosuvana Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +200% over the years.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office do I need to visit for property registration?

The Erode Joint I Sub Registrar Office is responsible for property registration in Block 7 Mosuvana Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected by the government during property transactions.