Guideline Value for Block 23 Asokapuri

Block 23 Asokapuri guideline value

The current guideline value of Block 23 Asokapuri is Rs 771 per sq.ft, effective from 1 July 2024. This property is located in Ward E village under the Erode Joint I SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Block 23 Asokapuri has changed

The guideline value for Block 23 Asokapuri has seen significant changes over the years. In 2002, the guideline value was Rs 127 per sq.ft, which increased to Rs 144 per sq.ft in 2003. The value then rose to Rs 200 per sq.ft in 2007, followed by a jump to Rs 300 per sq.ft in 2012. By 2017, the value reached Rs 335 per sq.ft, and in 2023, it further increased to Rs 700 per sq.ft. The current 2024 revision shows a guideline value of Rs 771 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, there have been notable increases. From 2012 to 2017, the increase was 12%, while from 2017 to 2023, the rise was 109%. The largest increase was from 2002 to 2024, which totals 507%. The register has no figures for the years not explicitly mentioned.

Guideline values in Ward E

In Ward E, there are 196 streets under the Erode Joint I SRO with 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 23 Asokapuri is below this median.

• Block 23 Chithambaram Colony street: Rs 1,100 per sq.ft (2024)
• Block 23 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 23 Govindharaja Street (or) Nagar: Rs 1,100 per sq.ft (2024)
• Block 23 Housing Unit (Periyar Nagar): Rs 2,200 per sq.ft (2024)
• Block 23 Kaliyankadu Huts: Rs 771 per sq.ft (2024)
• Block 23 Kulathu Palayam: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 23 Asokapuri

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the guideline value is Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, totaling Rs 69,390. 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 23 Asokapuri?

The Sub Registrar Office that covers Block 23 Asokapuri 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 during the registration of property transactions in Ward E. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Block 23 Asokapuri?

The current guideline value of Block 23 Asokapuri is Rs 771 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 127 per sq.ft in 2002 to Rs 771 per sq.ft in 2024, marking an overall increase of 507% over this period.

What are the stamp duty and registration fees for property in Block 23 Asokapuri?

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970, and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 23 Asokapuri, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculations.