Guideline Value for Block 21 Gandhiji Road

Block 21 Gandhiji Road guideline value

The current guideline value for Block 21 Gandhiji Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward E village, under the Erode Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Block 21 Gandhiji Road has changed

The guideline value for Block 21 Gandhiji Road has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 931 per sq.ft. This increased to Rs 1,052 per sq.ft in 2003, marking a rise of 13%. Following this, the value rose to Rs 1,500 per sq.ft in 2007, reflecting a 43% increase. The guideline value then saw a significant jump to Rs 3,000 per sq.ft in 2012, which was a 100% increase from the previous figure. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33% from the 2012 revision.

From 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 254%.

Guideline values in Ward E

In Ward E, there are 196 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 825 per sq.ft. The guideline value for Block 21 Gandhiji Road is above this median.

• Block 21 Chidhambaranar Street: Rs 772 per sq.ft (2024)
• Block 21 Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Block 21 Perum Pallam Odai Huts: Rs 771 per sq.ft (2024)
• Block 21 Poyyerikkarai Street: Rs 771 per sq.ft (2024)
• Block 20 Vetnari Hospital Road: Rs 2,750 per sq.ft (2024)
• Block 20 Vannara Street (Porkai Pandian Street): Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 21 Gandhiji Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 21 Gandhiji Road?

The Sub Registrar Office that covers Block 21 Gandhiji Road 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 an important factor when buying or selling property in Ward E. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

When a property is registered, the guideline value or the sale price is used to calculate the applicable duties and fees. This means that if the sale price is higher than the guideline value, the stamp duty will be based on the sale price. It is essential for both parties to be aware of the guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Block 21 Gandhiji Road?

The current guideline value for Block 21 Gandhiji Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 931 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 254%.

What is the classification of land in Block 21 Gandhiji Road?

Block 21 Gandhiji Road is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a plot of 1,000 sq.ft, the guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

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

The Sub Registrar Office for Block 21 Gandhiji Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode - 638009, Coimbatore registration zone.