Guideline Value for Block 26 Giramadai

Block 26 Giramadai guideline value

The current guideline value for Block 26 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 26 Giramadai has changed

The guideline value for Block 26 Giramadai has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase from Rs 700 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 335 per sq.ft, which shows a significant increase of +109% from 2017 to 2023. The 2012 revision had set the value at Rs 500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value increased by +54%.

The register has no figure for the years 2002, 2003, and 2007 for this street. The 2012 revision was Rs 500 per sq.ft, and the 2017 revision was Rs 335 per sq.ft, before the substantial increase in subsequent years.

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. The guideline value for Block 26 Giramadai is below this median.

• Block 26 E.V.Nanjappa Street: Rs 1,100 per sq.ft (2024)
• Block 26 Karuppanasamy Kovil Street: Rs 771 per sq.ft (2024)
• Block 25 S.K.Chenniappa Gounder Street: Rs 1,100 per sq.ft (2024)
• Block 26 Santhankarukku Street: Rs 771 per sq.ft (2024)
• Block 25 Santhankarukku Street: Rs 771 per sq.ft (2024)
• Block 26 S.K.Chenniappa Gounder Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Block 26 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, bringing the total to Rs 69,300. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Block 26 Giramadai?

The Sub Registrar Office that covers Block 26 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 further assistance.

How the guideline value is used when you buy or sell in Ward B

The guideline value plays a crucial role during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is assessed by the local authorities and is updated periodically to reflect changes in the real estate market.

When a buyer or seller registers a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Block 26 Giramadai?

The current guideline value for Block 26 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, reflecting an overall increase of +54% over that period.

What is the stamp duty rate for property in Block 26 Giramadai?

The stamp duty rate for property in Block 26 Giramadai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Block 26 Giramadai?

The Sub Registrar Office for Block 26 Giramadai is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.

What are the other streets in Ward B with guideline values?

Other streets in Ward B include Block 26 E.V.Nanjappa Street at Rs 1,100 per sq.ft, Block 26 Karuppanasamy Kovil Street at Rs 771 per sq.ft, and several others, with values ranging from Rs 771 to Rs 1,100 per sq.ft.