Guideline Value for Block 7 Muthusamy Lane

Block 7 Muthusamy Lane guideline value

The current guideline value of Block 7 Muthusamy Lane 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Block 7 Muthusamy Lane has changed

The guideline value for Block 7 Muthusamy Lane has seen several revisions over the years. Starting from Rs 327 per sq.ft in 2002, the value increased to Rs 367 in 2003, marking a change of +12%. The value then rose to Rs 500 in 2007, an increase of +36%. In 2012, the figure was revised to Rs 750, reflecting a +50% change. However, the value decreased to Rs 502 in 2017, a decline of -33%. The 2023 revision set the value at Rs 750, which was then increased to Rs 825 in 2024, showing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +152%. The register has no figure for this street for the years not mentioned in the revisions.

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. Block 7 Muthusamy Lane's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 7 Muthusamy Lane?

The Sub Registrar Office that covers Block 7 Muthusamy Lane 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 further assistance.

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

The guideline value is an important factor in property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees. It is essential for both parties to understand that the fees are based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Block 7 Muthusamy Lane?

The current guideline value of Block 7 Muthusamy Lane 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 multiple times, starting from Rs 327 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of +152%.

What is the stamp duty rate for properties in Block 7 Muthusamy Lane?

The stamp duty rate for properties in Block 7 Muthusamy Lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Block 7 Muthusamy Lane?

The Sub Registrar Office for Block 7 Muthusamy Lane is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with local regulations.