Guideline Value for Block 22 Giramadai 1 to 5

Block 22 Giramadai 1 to 5 guideline value

The current guideline value for Block 22 Giramadai 1 to 5 is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward B village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Block 22 Giramadai 1 to 5 has changed

The guideline value for Block 22 Giramadai 1 to 5 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 178 per sq.ft. This increased to Rs 200 per sq.ft in 2003, reflecting a change of +12%. In 2007, the value rose to Rs 250 per sq.ft, marking a +25% increase. The 2012 revision saw a decrease to Rs 500 per sq.ft, which was a -33% change. However, the value rebounded to Rs 335 per sq.ft in 2017, showing a +109% increase. The guideline value continued to rise, reaching Rs 700 per sq.ft in 2023, and finally, it stands at Rs 770 per sq.ft from the 2024 revision, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +333%. There are no figures available for the revisions from the 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 value for these streets is Rs 1,100 per sq.ft, placing Block 22 Giramadai 1 to 5 below the median.

• Block 22 Deva street: Rs 770 per sq.ft (2024)
• Block 22 Lakhman Street: Rs 770 per sq.ft (2024)
• Block 22 Mulakarai: Rs 770 per sq.ft (2024)
• Block 22 Awaiyar Street: Rs 771 per sq.ft (2024)
• Block 22 S.K.C.Road: Rs 1,100 per sq.ft (2024)
• Block 22 Sri Ranga Naicker Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 22 Giramadai 1 to 5

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 22 Giramadai 1 to 5?

The Sub Registrar Office that covers Block 22 Giramadai 1 to 5 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 during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is registered, the guideline value is used to calculate the applicable fees based on the property's size and the current rate. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 22 Giramadai 1 to 5?

The current guideline value for Block 22 Giramadai 1 to 5 is Rs 770 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 178 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of +333% over the years.

What is the stamp duty for property in Block 22 Giramadai 1 to 5?

The stamp duty for property in Block 22 Giramadai 1 to 5 is 7% of the guideline value, which for a 1,000 sq.ft plot at Rs 770 per sq.ft amounts to Rs 53,900.

Which office handles the registration for this area?

The Erode Joint I Sub Registrar Office handles the registration for Block 22 Giramadai 1 to 5, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

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

Other streets in Ward B with similar guideline values include Block 22 Deva street, Block 22 Lakhman Street, and Block 22 Mulakarai, all at Rs 770 per sq.ft for 2024.