Guideline Value for Block 8 Mandapam Street

Block 8 Mandapam Street guideline value

The current guideline value for Block 8 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 8 Mandapam Street has changed

The guideline value for Block 8 Mandapam Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 467 per sq.ft. This value increased to Rs 528 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 750 per sq.ft, reflecting a 42% change. The 2012 revision saw a significant jump to Rs 1,250 per sq.ft, which was a 67% increase from the previous figure. However, in 2017, the value dropped to Rs 837 per sq.ft, representing a decrease of 33%. The guideline value then rose to Rs 1,250 per sq.ft in 2023, followed by the current figure of Rs 1,375 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 194%. The register has no figures for revisions in years other than those specified.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median value for this area is Rs 825 per sq.ft, placing Block 8 Mandapam Street's 2024 figure above that median.

• Block 8 Nachinarkiniyar Street: Rs 771 per sq.ft (2024)
• Block 8 Nanjaiya Pillai Lane: Rs 771 per sq.ft (2024)
• Block 8 Nethaji Street: Rs 1,925 per sq.ft (2024)
• Block 8 North Okkiliar Street, Arulmozhi theru: Rs 772 per sq.ft (2024)
• Block 8 Jothi Street: Rs 771 per sq.ft (2024)
• Block 8 East Okkiliyar Street (Kambar Street): Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Mandapam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,375 per sq.ft, the 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, making the total Rs 1,23,750. Please note that 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 more details.

Which Sub Registrar Office covers Block 8 Mandapam Street?

The Sub Registrar Office that covers Block 8 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 information.

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

The guideline value is a crucial factor in property transactions in Ward E. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations and registration processes.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Block 8 Mandapam Street?

The current guideline value for Block 8 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 from Rs 467 per sq.ft in 2002 to Rs 1,375 per sq.ft in 2024, reflecting an overall increase of 194% over the years.

What is the land classification for Block 8 Mandapam Street?

Block 8 Mandapam Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Block 8 Mandapam Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.