Guideline Value for Block 25 Giramadai

Block 25 Giramadai guideline value

The current guideline value of Block 25 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 and is classified as Residential Class III Type - I.

How the guideline value of Block 25 Giramadai has changed

The guideline value for Block 25 Giramadai has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 700 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 770 per sq.ft. Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 109%. The increase from 2023 to 2024 is 10%. Overall, the guideline value has risen by 54% from 2012 to 2024.

Guideline values in Ward B

In Ward B, there are 170 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 1,100 per sq.ft. Block 25 Giramadai's guideline value is below this median.

• Block 25 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)
• Block 25 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 24 S.K.Chenniappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 24 Santhankarukku Street: Rs 771 per sq.ft (2024)
• Block 24 Rajarathinam St: Rs 770 per sq.ft (2024)
• Block 25 Santhankarukku Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 25 Giramadai

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total 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, leading to a total of 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 25 Giramadai?

The Sub Registrar Office that covers Block 25 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 an important factor during property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a sale, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Block 25 Giramadai?

The current guideline value of Block 25 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 changed from Rs 500 per sq.ft in 2012 to Rs 770 per sq.ft in 2024, with various revisions in between, including a significant increase of 109% from 2017 to 2023.

What is the land classification for Block 25 Giramadai?

Block 25 Giramadai is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total fees would be Rs 69,300.

Where can I find the Sub Registrar Office for Block 25 Giramadai?

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