Guideline Value for Block 11 Gandhi Nagar Road

Block 11 Gandhi Nagar Road guideline value

The current guideline value for Block 11 Gandhi Nagar Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO, classified as Mixed Type - I land.

How the guideline value of Block 11 Gandhi Nagar Road has changed

The guideline value for Block 11 Gandhi Nagar Road has seen several revisions over the years. In 2002, the guideline value was Rs 1,084 per sq.ft, which increased to Rs 1,215 per sq.ft in 2003. Following this, the value rose to Rs 1,500 per sq.ft in 2007, and then to Rs 2,300 per sq.ft in 2012. A significant drop occurred, bringing the value down to Rs 1,541 per sq.ft in 2017. The value then increased to Rs 2,300 per sq.ft in 2023 before reaching the current figure of Rs 2,530 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 133%. The changes between revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 53% increase from 2007 to 2012, a 23% increase from 2003 to 2007, and a 12% increase from 2002 to 2003. The register has no figure for the years not mentioned above.

Guideline values in Ward B

In Ward B, there are 170 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 these streets is Rs 1,100 per sq.ft, placing Block 11 Gandhi Nagar Road above that median.

• Block 11 50 feet Road: Rs 1,100 per sq.ft (2024)
• Block 11 Muthukaruppan Street: Rs 1,650 per sq.ft (2024)
• Block 10 Varatharajan Street: Rs 1,100 per sq.ft (2024)
• Block 11 N.G.G.O.Colony 1 to 8: Rs 1,100 per sq.ft (2024)
• Block 11 Perundurai Road: Rs 4,400 per sq.ft (2024)
• Block 10 Poosari Chennimalai Street 1 to 5: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 11 Gandhi Nagar Road

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. 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 11 Gandhi Nagar Road?

The Sub Registrar Office that covers Block 11 Gandhi Nagar Road 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 information.

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

The guideline value is a crucial factor in property transactions in Ward B. It determines 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 is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Block 11 Gandhi Nagar Road?

The current guideline value for Block 11 Gandhi Nagar Road is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,084 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, showing an overall increase of 133% over the years.

What are the other streets in Ward B with their guideline values?

Other streets in Ward B include Block 11 50 feet Road at Rs 1,100 per sq.ft, Block 11 Muthukaruppan Street at Rs 1,650 per sq.ft, and Block 11 Perundurai Road at Rs 4,400 per sq.ft, among others.

How is stamp duty calculated for properties in Block 11 Gandhi Nagar Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100.

Where can I find the Sub Registrar Office for Block 11 Gandhi Nagar Road?

The Sub Registrar Office for Block 11 Gandhi Nagar Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.