Guideline Value for Block 24 Gandhiji Road

Block 24 Gandhiji Road guideline value

The current guideline value of Block 24 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 24 Gandhiji Road has changed

Looking at the revisions over the years, the guideline value for Block 24 Gandhiji Road has seen significant changes. In the 2002 revision, the guideline value was Rs 931 per sq.ft. This increased to Rs 1,052 per sq.ft in 2003, reflecting a change of +13%. The value then rose to Rs 1,500 per sq.ft in 2007, marking a 43% increase. In 2012, the value saw a substantial increase to Rs 3,000 per sq.ft, a rise of 100%. However, in the 2017 revision, it dropped to Rs 2,010 per sq.ft, which was a decrease of 33%. The value climbed again to Rs 3,000 per sq.ft in 2023, followed by the current figure of Rs 3,300 per sq.ft in 2024, representing a 10% increase.

It is important to note that there are no revision figures available for the years not listed in the register for this street. The overall change from 2002 to 2024 is an increase of 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 24 Gandhiji Road is above this median.

• Block 24 Easwaran Pillai Street: Rs 771 per sq.ft (2024)
• Block 24 Huts (Goodshed Opposite side): Rs 771 per sq.ft (2024)
• Block 24 Kunikadu Karimedu (or) Kalliyangadu: Rs 771 per sq.ft (2024)
• Block 24 Mettur Road (or) E.V. Nanjappa Road: Rs 2,750 per sq.ft (2024)
• Block 24 Muthukumarasamypillai Main Road: Rs 2,530 per sq.ft (2024)
• Block 23 Poyyaerikkarai: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 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, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Block 24 Gandhiji Road?

The Sub Registrar Office that covers Block 24 Gandhiji Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the 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 critical factor in the registration process when buying or selling property in Ward E. It is used to determine the stamp duty and registration fees that must be paid to the government, ensuring that the transaction is legally recognized.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Block 24 Gandhiji Road?

The current guideline value of Block 24 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 significantly from Rs 931 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 254% over the years.

What is the land classification for Block 24 Gandhiji Road?

Block 24 Gandhiji Road is classified as Commercial Class I Type - II.

What is the registration office for this area?

The registration office covering Block 24 Gandhiji Road is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be calculated at 7% of that amount.