Guideline Value for Block 3 Ganapathipuram

Block 3 Ganapathipuram guideline value

The current guideline value of Block 3 Ganapathipuram is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Ward C village under the Erode Joint I SRO, and it is classified as Residential Class II Type - II.

How the guideline value of Block 3 Ganapathipuram has changed

The guideline value for Block 3 Ganapathipuram has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 239 per sq.ft. This increased to Rs 268 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, showing a 49% increase. In 2012, the value remained at Rs 750 per sq.ft, which was a notable increase of 88% from the previous revision. However, this was followed by a decrease to Rs 502 per sq.ft in 2017, reflecting a drop of 33%. The value then surged to Rs 750 per sq.ft in 2023, before reaching the current figure of Rs 825 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 245%. There are no figures available for the revisions between these years specifically for Block 3 Ganapathipuram.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO carrying a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Block 3 Ganapathipuram is below this median.

• Block 3 Chokkai Thottam St: Rs 771 per sq.ft (2024)
• Block 3 Chinnappa Lay out: Rs 771 per sq.ft (2024)
• Block 3 Krishnampalayam Part 1,2: Rs 825 per sq.ft (2024)
• Block 3 Chenniyappa Street: Rs 771 per sq.ft (2024)
• Block 38 Prakasham Street: Rs 3,300 per sq.ft (2024)
• Block 38 Nethaji Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Ganapathipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Block 3 Ganapathipuram?

The Sub Registrar Office that covers Block 3 Ganapathipuram is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ward C. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall transaction costs, including stamp duty and registration fees. This ensures transparency and compliance with the legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Block 3 Ganapathipuram?

The current guideline value of Block 3 Ganapathipuram is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 239 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, showing an overall increase of 245% over this period.

What is the land classification of Block 3 Ganapathipuram?

Block 3 Ganapathipuram is classified as Residential Class II Type - II.

Where is the Sub Registrar Office for Block 3 Ganapathipuram located?

The Sub Registrar Office for Block 3 Ganapathipuram is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, in the Coimbatore registration zone.

How is stamp duty calculated for properties in Block 3 Ganapathipuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 57,750.