Guideline Value for Block 7 Ganapathipuram Part 2

Block 7 Ganapathipuram Part 2 guideline value

The current guideline value for Block 7 Ganapathipuram Part 2 is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Ward C village, under the Erode Joint I SRO, and is classified as Residential Class II Type - II.

How the guideline value of Block 7 Ganapathipuram Part 2 has changed

The guideline value for Block 7 Ganapathipuram Part 2 has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 185 per sq.ft. It increased to Rs 208 per sq.ft in 2003, followed by a rise to Rs 300 per sq.ft in 2007. The 2012 revision saw a return to Rs 750 per sq.ft, which then dropped to Rs 502 per sq.ft in 2017. The value increased significantly to Rs 750 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 825 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the guideline value increased by 12%. The increase from 2003 to 2007 was 44%. However, the value saw a significant rise of 150% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. A substantial increase of 49% occurred from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 346%.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,375 per sq.ft, indicating that the 2024 figure for Block 7 Ganapathipuram Part 2 is below this median.

• Block 7 K.N.Kuppusamy Road: Rs 1,375 per sq.ft (2024)
• Block 7 Cauvery Road Main Road Part 3: Rs 1,925 per sq.ft (2024)
• Block 6 Vinayagar Kovil Street: Rs 772 per sq.ft (2024)
• Block 6 Veeraboyan Street: Rs 770 per sq.ft (2024)
• Block 7 Rajaji Street (Puram): Rs 770 per sq.ft (2024)
• Block 7 Sagansaibu Street: Rs 771 per sq.ft (2024)

Stamp duty and registration fee for property in Block 7 Ganapathipuram Part 2

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, making the total cost for these fees 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 more details.

Which Sub Registrar Office covers Block 7 Ganapathipuram Part 2?

The Sub Registrar Office that covers Block 7 Ganapathipuram Part 2 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 information.

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

The guideline value is an essential figure used during the registration of property transactions in Ward C. It serves as a basis for calculating the stamp duty and registration fees that buyers must pay when acquiring property in this area.

When selling property, the guideline value can also influence the sale price, as it provides a reference point for both buyers and sellers. It is important for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value for Block 7 Ganapathipuram Part 2?

The current guideline value for Block 7 Ganapathipuram Part 2 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 185 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, showing an overall increase of 346% over this period.

What is the classification of land in Block 7 Ganapathipuram Part 2?

The land classification for Block 7 Ganapathipuram Part 2 is Residential Class II Type - II.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

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

The Sub Registrar Office for Block 7 Ganapathipuram Part 2 is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.