Guideline Value for Block 23 Giramadai 1 to 5

Block 23 Giramadai 1 to 5 guideline value

The current guideline value for Block 23 Giramadai 1 to 5 is Rs 770 per sq.ft. 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 23 Giramadai 1 to 5 has changed

Since the 2002 revision, the guideline value for Block 23 Giramadai 1 to 5 has seen significant changes. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 207 per sq.ft in 2003, marking a 13% rise. The value then continued to rise to Rs 250 per sq.ft in 2007, a 21% increase, followed by a substantial jump to Rs 500 per sq.ft in 2012, reflecting a 100% change. However, the value decreased to Rs 335 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw the value rise to Rs 700 per sq.ft, a significant increase of 109%, and the most recent revision in 2024 has set the value at Rs 770 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 318%. There are no figures available for any other years for this street in the guideline value register.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO with 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 23 Giramadai 1 to 5 below this median.

• Block 23 Deva Street: Rs 770 per sq.ft (2024)
• Block 23 Karuppana Samy Kovil Street: Rs 771 per sq.ft (2024)
• Block 22 Vela Street: Rs 825 per sq.ft (2024)
• Block 23 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 22 Thanakodi Lay Out: Rs 771 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 23 Giramadai 1 to 5

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, bringing the total to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 23 Giramadai 1 to 5?

The Sub Registrar Office that covers Block 23 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Ward B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations for their property sales.

Frequently asked questions

What is the current guideline value for Block 23 Giramadai 1 to 5?

The current guideline value for Block 23 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 184 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 318% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 69,300, which includes Rs 53,900 for stamp duty and Rs 15,400 for registration fees.

Where is the Sub Registrar Office located for this property?

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

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the stamp duty and registration fees payable during a transaction. Buyers and sellers should be aware of this value to ensure a smooth registration process.