Guideline Value for Block 23 Gandhiji Road

Block 23 Gandhiji Road guideline value

The current guideline value of Block 23 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 23 Gandhiji Road has changed

The guideline value for Block 23 Gandhiji Road has seen several revisions over the years. The earliest recorded revision in the register 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 13% rise. The value continued to rise to Rs 1,500 per sq.ft in 2007, which was a 43% increase. The next revision in 2012 saw a decrease to Rs 3,000 per sq.ft, a drop of 33%. In 2017, the value rose again to Rs 2,010 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 3,000 per sq.ft, before the current revision of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not mentioned in the register for this street. 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 have 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 Gandhiji Road is above this median.

• Block 23 Govindharaja Street (or) Nagar: Rs 1,100 per sq.ft (2024)
• Block 23 Chithambaram Colony street: 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 Asokapuri: 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 Gandhiji Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 23 Gandhiji Road?

The Sub Registrar Office that covers Block 23 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 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 when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded at a fair value as per the government regulations. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Block 23 Gandhiji Road?

The current guideline value of Block 23 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 changed from Rs 931 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 254%.

What is the land classification for Block 23 Gandhiji Road?

Block 23 Gandhiji Road is classified as Commercial Class I Type - II.

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

For a 1,000 sq.ft property, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for properties in this area?

The Erode Joint I Sub Registrar Office handles the registration for properties in Block 23 Gandhiji Road, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.