Guideline Value for Block 24 New Sandhai Road

Block 24 New Sandhai Road guideline value

The current guideline value of Block 24 New Sandhai Road is Rs 2,750 per sq.ft. This property is located in Ward C village, under the Erode Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Block 24 New Sandhai Road has changed

The guideline value for Block 24 New Sandhai Road has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 958 per sq.ft. This increased to Rs 1,073 per sq.ft in 2003, representing a change of +12%. Following this, the value rose to Rs 1,250 per sq.ft in 2007, marking a +16% increase. The value then saw a significant jump to Rs 2,500 per sq.ft in 2012, reflecting a +100% change. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, which is a -33% change. The guideline value then increased to Rs 2,500 per sq.ft in 2023, showing a +49% change. Most recently, the value has been revised to Rs 2,750 per sq.ft effective from 1 July 2024, which is a +10% change from the previous year.

There are no figures available for revisions in years not listed above for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, indicating that Block 24 New Sandhai Road's current value is above this median.

• Block 24 Nehru Street: Rs 2,750 per sq.ft (2024)
• Block 24 Nachiappa Street 1,2: Rs 2,750 per sq.ft (2024)
• Block 24 Muthusamy Street: Rs 1,100 per sq.ft (2024)
• Block 24 Sathyamangalam (or) Veerapathira Road: Rs 4,400 per sq.ft (2024)
• Block 25 Akilmedu Street: Rs 2,750 per sq.ft (2024)
• Block 24 AkilMedu Street Part 1: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Block 24 New Sandhai Road

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Block 24 New Sandhai Road?

The Sub Registrar Office that covers Block 24 New Sandhai 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 C

The guideline value plays a crucial role in the registration process of property transactions in Ward C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Block 24 New Sandhai Road?

The current guideline value of Block 24 New Sandhai Road is Rs 2,750 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 958 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +187% over the years.

What is the land classification for Block 24 New Sandhai Road?

Block 24 New Sandhai Road is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

Where is the Sub Registrar Office located?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 2,750 per sq.ft would incur a stamp duty of Rs 1,92,500.