Guideline Value for Block 24 Giramadai

Block 24 Giramadai guideline value

The current guideline value for Block 24 Giramadai 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, classified as Residential Class III Type - I.

How the guideline value of Block 24 Giramadai has changed

Over the years, the guideline value for Block 24 Giramadai has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. Following this, the value significantly increased to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 770 per sq.ft, marking a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 109%. Overall, from 2012 to 2024, the guideline value has increased by 54%.

Guideline values in Ward B

In Ward B, there are 170 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 1,100 per sq.ft. The guideline value for Block 24 Giramadai is below this median.

• Block 24 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)
• Block 24 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 23 ThanaKodi Lay Out: Rs 771 per sq.ft (2024)
• Block 23 S.K.C.Road T.S.59: Rs 1,100 per sq.ft (2024)
• Block 23 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 24 Rajarathinam St: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 Giramadai

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 24 Giramadai?

The Sub Registrar Office that covers Block 24 Giramadai 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 when registering property transactions in Ward B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the appropriate taxes are paid based on the property’s assessed value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Block 24 Giramadai?

The current guideline value for Block 24 Giramadai is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, and then increasing to Rs 700 per sq.ft in 2023, before reaching Rs 770 per sq.ft in 2024.

What is the land classification for Block 24 Giramadai?

Block 24 Giramadai is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Block 24 Giramadai is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

How is the stamp duty calculated for properties in Block 24 Giramadai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000, leading to a stamp duty of Rs 53,900.