Guideline Value for Block 7 Muthusamy Street (or) Athiyanan Street

Block 7 Muthusamy Street (or) Athiyanan Street guideline value

The current guideline value for Block 7 Muthusamy Street (or) Athiyanan 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 Muthusamy Street (or) Athiyanan Street has changed

The guideline value for Block 7 Muthusamy Street (or) Athiyanan Street has seen several revisions over the years. In 2002, the value was Rs 361 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 500 per sq.ft in 2007, a 23% increase from the previous year. However, it dropped to Rs 750 per sq.ft in 2012, reflecting a 33% decrease. The value then increased to Rs 502 per sq.ft in 2017, followed by a significant rise to Rs 750 per sq.ft in 2023, and finally reaching Rs 825 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 129%. 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. The median guideline value in this area is Rs 1,100 per sq.ft, which means that the 2024 figure for Block 7 Muthusamy Street (or) Athiyanan Street is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total 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, making the total cost for these fees Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 7 Muthusamy Street (or) Athiyanan Street?

The Sub Registrar Office that covers Block 7 Muthusamy Street (or) Athiyanan 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 B

The guideline value is a crucial factor when registering property transactions in Ward B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When buying or selling property, the guideline value helps in determining the official sale price for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Block 7 Muthusamy Street (or) Athiyanan Street?

The current guideline value for Block 7 Muthusamy Street (or) Athiyanan 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 significantly from Rs 361 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What is the stamp duty for property in Block 7 Muthusamy Street (or) Athiyanan Street?

The stamp duty for property in Block 7 Muthusamy Street (or) Athiyanan Street is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 8,25,000, the stamp duty would be Rs 57,750.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 7 Muthusamy Street (or) Athiyanan Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a standard valuation for properties in the area, ensuring consistency in property transactions.