Guideline Value for Block 28 Gramadai 1 to 5

Block 28 Gramadai 1 to 5 guideline value

The current guideline value for Block 28 Gramadai 1 to 5 is Rs 771 per sq.ft. This property is located in Ward B village, under the Erode Joint I SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Block 28 Gramadai 1 to 5 has changed

The guideline value for Block 28 Gramadai 1 to 5 has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased significantly to Rs 700 per sq.ft in 2023, and currently stands at Rs 771 per sq.ft as of the 2024 revision, effective from 1 July 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

In summary, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 74%; and from 2023 to 2024, a rise of 10%. Overall, from 2012 to 2024, the guideline value has increased by 29%.

Guideline values in Ward B

In Ward B, there are 170 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Block 28 Gramadai 1 to 5 below that median.

• Block 28 Dhanakodi Layout: Rs 771 per sq.ft (2024)
• Block 28 Keeramadai 7: Rs 770 per sq.ft (2024)
• Block 28 Manal medu Street: Rs 771 per sq.ft (2024)
• Block 27 Stoney Bridge huts: Rs 770 per sq.ft (2024)
• Block 28 Rajarathinam Street: Rs 770 per sq.ft (2024)
• Block 28 Santhankarukku: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 28 Gramadai 1 to 5

For a 1,000 sq.ft plot at the current guideline value of Rs 771 per sq.ft, the total guideline value amounts to Rs 7,71,000. The stamp duty at 7% would be Rs 53,970, and the registration fee at 2% would be Rs 15,420, bringing the total fees together to Rs 69,390. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block 28 Gramadai 1 to 5?

The Sub Registrar Office that covers Block 28 Gramadai 1 to 5 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 critical factor during the registration of property transactions in Ward B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the guideline value helps in calculating the applicable charges and ensures compliance with local regulations. It is important for buyers and sellers to be informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Block 28 Gramadai 1 to 5?

The current guideline value for Block 28 Gramadai 1 to 5 is Rs 771 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and currently stands at Rs 771 per sq.ft in 2024.

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

For a property valued at Rs 7,71,000, the stamp duty would be Rs 53,970, and the registration fee would be Rs 15,420, totaling Rs 69,390.

Which office handles property registrations in Block 28 Gramadai 1 to 5?

The Erode Joint I Sub Registrar Office handles property registrations for Block 28 Gramadai 1 to 5, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the significance of the guideline value?

The guideline value is significant as it determines the official value of a property for calculating stamp duty and registration fees during transactions. It ensures transparency and compliance in property dealings.