Guideline Value for Block 3 Gandhiji Road

Block 3 Gandhiji Road guideline value

The current guideline value of Block 3 Gandhiji Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ward E village under the Erode Joint I SRO, classified as Commercial Class I Type - II.

How the guideline value of Block 3 Gandhiji Road has changed

Since the 2002 revision, the guideline value for Block 3 Gandhiji Road has seen significant changes. The 2002 figure was Rs 931 per sq.ft, which increased to Rs 1,052 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 1,500 per sq.ft in 2007, a growth of 43%. The 2012 revision saw a jump to Rs 3,000 per sq.ft, reflecting a 100% increase from the previous figure. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023 and finally reached Rs 3,300 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 254%. It is important to note that there are no figures available for revisions in years not listed in the register for this street.

Guideline values in Ward E

In Ward E, the guideline values range from Rs 770 to Rs 6,600 per sq.ft as of the 2024 revision, with a median value of Rs 825 per sq.ft. The guideline value for Block 3 Gandhiji Road is above this median.

• Block 3 Chidamparam Colony: Rs 1,925 per sq.ft (2024)
• Block 3 Brough Road Main Road: Rs 6,600 per sq.ft (2024)
• Block 3 Sunnambukara Street: Rs 825 per sq.ft (2024)
• Block 4 Cutcheri Street: Rs 3,300 per sq.ft (2024)
• Block 4 Gandhiji Road: Rs 3,300 per sq.ft (2024)
• Block 4 State Bank Road (Poombuhar Road): Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 3 Gandhiji Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is essential to note that the 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 3 Gandhiji Road?

The Sub Registrar Office covering Block 3 Gandhiji Road 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 E

The guideline value is a critical factor during the registration of property transactions in Ward E. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transfers.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the prevailing market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Block 3 Gandhiji Road?

The current guideline value of Block 3 Gandhiji Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 931 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 254% over the years.

What is the land classification for Block 3 Gandhiji Road?

Block 3 Gandhiji Road is classified as Commercial Class I Type - II under the Erode Joint I SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

The Erode Joint I Sub Registrar Office is located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. You can find your SRO through the provided link.