Guideline Value for Block 28 Gramadai Street 1 to 5

Block 28 Gramadai Street 1 to 5 guideline value

The current guideline value for Block 28 Gramadai Street 1 to 5 is Rs 771 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO and is classified as Residential Class III Type - I.

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

The guideline value for Block 28 Gramadai Street 1 to 5 has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 109%, raising the value to Rs 700 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 771 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 54%.

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, with a median value of Rs 825 per sq.ft. The guideline value for Block 28 Gramadai Street 1 to 5 is below this median.

• Block 28 L.G.G.S.Colony 1,2,3: Rs 771 per sq.ft (2024)
• Block 28 Poondhurai Road: Rs 1,100 per sq.ft (2024)
• Block 28 Agathi Perumal Kovil Huts: Rs 771 per sq.ft (2024)
• Block 28 Railway Colony Road: Rs 1,100 per sq.ft (2024)
• Block 28 Railway Station Road: Rs 771 per sq.ft (2024)
• Block 28 Sathankaruku (or) Shanthikaruku 1 2 3: Rs 771 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 771 per sq.ft, the 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, totaling Rs 69,390. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Block 28 Gramadai Street 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 additional information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ward E. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately within the legal framework.

Frequently asked questions

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

The current guideline value for Block 28 Gramadai Street 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 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 771 per sq.ft in 2024.

What is the land classification for Block 28 Gramadai Street 1 to 5?

The land classification for Block 28 Gramadai Street 1 to 5 is Residential Class III Type - I.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 53,970.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Block 28 Gramadai Street 1 to 5 is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone.