Guideline Value for Block 9 Muthusamy Sandu

Block 9 Muthusamy Sandu guideline value

The current guideline value for Block 9 Muthusamy Sandu is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Block 9 Muthusamy Sandu has changed

The guideline value for Block 9 Muthusamy Sandu has seen several revisions over the years. Starting from Rs 501 per sq.ft in 2003, it increased to Rs 750 per sq.ft in 2007, followed by a rise to Rs 1,000 per sq.ft in 2012. However, there was a decrease to Rs 670 per sq.ft in 2017. The value then increased significantly to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft. The register has no figure for this street in 2002.

In terms of percentage changes, the guideline value increased by 50% from 2003 to 2007, then by 33% from 2007 to 2012. A decrease of 33% was noted from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 120%.

Guideline values in Ward B

In Ward B, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as per the 2024 revision, with the median value being Rs 1,100 per sq.ft. The guideline value for Block 9 Muthusamy Sandu aligns with this median.

• Block 9 Palaniappa Street: Rs 2,200 per sq.ft (2024)
• Block 9 Pavadai Street: Rs 825 per sq.ft (2024)
• Block 9 Periyana Street: Rs 1,100 per sq.ft (2024)
• Block 9 Power House Colony: Rs 1,100 per sq.ft (2024)
• Block 9 Kalaimagal School Road: Rs 1,100 per sq.ft (2024)
• Block 9 E.V.Nanjappa Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Block 9 Muthusamy Sandu

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 9 Muthusamy Sandu?

The Sub Registrar Office that covers Block 9 Muthusamy Sandu 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 in the registration process when buying or selling property in Ward B. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded accurately for taxation purposes.

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 within the area.

Frequently asked questions

What is the current guideline value for Block 9 Muthusamy Sandu?

The current guideline value for Block 9 Muthusamy Sandu is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 501 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

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

For a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft, the total stamp duty and registration fees would amount to Rs 99,000.

Which office handles the registration for Block 9 Muthusamy Sandu?

The registration for Block 9 Muthusamy Sandu is handled by the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 9 Muthusamy Sandu?

Block 9 Muthusamy Sandu is classified as Residential Class II Type - I, which is important for understanding its usage and potential development.