Guideline Value for Block 25 Gandhiji Road

Block 25 Gandhiji Road guideline value

The current guideline value of Block 25 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 it falls under the Commercial Class I Type - II land classification.

How the guideline value of Block 25 Gandhiji Road has changed

The guideline value for Block 25 Gandhiji Road has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 931 per sq.ft. In 2003, it increased to Rs 1,052 per sq.ft, marking a 13% rise. The 2007 revision saw a further increase to Rs 1,500 per sq.ft, which was a 43% change. The 2012 revision recorded a value of Rs 3,000 per sq.ft, reflecting a significant 100% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, which was a drop of 33% from the 2012 figure.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 figure. Notably, there are no recorded figures for revisions other than those mentioned for this street.

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. The median guideline value for these streets is Rs 825 per sq.ft, placing Block 25 Gandhiji Road's 2024 figure above that median.

• Block 25 Bala Subbarayalu Naidu Street: Rs 772 per sq.ft (2024)
• Block 25 Madhavakrishna Street: Rs 1,100 per sq.ft (2024)
• Block 25 Manickam Theatre Road: Rs 1,925 per sq.ft (2024)
• Block 25 Mosikeeranar Street: Rs 771 per sq.ft (2024)
• Block 25 Municipal Lane Huts: Rs 771 per sq.ft (2024)
• Block 25 Old Railway Station Road: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, together 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 information.

Which Sub Registrar Office covers Block 25 Gandhiji Road?

The Sub Registrar Office that covers Block 25 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 details.

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 calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps in determining the legal obligations regarding registration costs. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Block 25 Gandhiji Road?

The current guideline value of Block 25 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, reflecting an overall increase of 254% over the years.

What is the land classification for Block 25 Gandhiji Road?

Block 25 Gandhiji Road is classified under Commercial Class I Type - II land classification.

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

For a property valued at Rs 33,00,000, 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 Block 25 Gandhiji Road?

The Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone, handles the registration for Block 25 Gandhiji Road.