Guideline Value for Block 8 Gandhipuram Huts

Block 8 Gandhipuram Huts guideline value

The current guideline value of Block 8 Gandhipuram Huts is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Ward C village under the Erode Joint I SRO and falls under the Residential Class III Type - II land classification.

How the guideline value of Block 8 Gandhipuram Huts has changed

The guideline value for Block 8 Gandhipuram Huts has undergone several revisions since 2002. In 2002, the value was Rs 131 per sq.ft, which increased to Rs 147 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 300 per sq.ft in 2007, representing an increase of +104%. Following this, the value was revised to Rs 500 per sq.ft in 2012, which was a decrease of -33%. The value then increased to Rs 335 per sq.ft in 2017, a change of +109%, and was further revised to Rs 700 per sq.ft in 2023, before reaching the current value of Rs 770 per sq.ft in 2024, an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +488%. The register has no figure for the years between these revisions for this street.

Guideline values in Ward C

In Ward C, there are 250 streets under the Erode Joint I SRO, with guideline values ranging from Rs 770 to Rs 7,700 per sq.ft. The median value in this area is Rs 1,375 per sq.ft, indicating that the 2024 figure for Block 8 Gandhipuram Huts is below that median.

• Block 8 Gandhipuram Street 1-4: Rs 771 per sq.ft (2024)
• Block 8 Kannaian Road 1,2,3: Rs 770 per sq.ft (2024)
• Block 8 Kannaian Street Part 1: Rs 770 per sq.ft (2024)
• Block 7 Varathappan Street: Rs 770 per sq.ft (2024)
• Block 8 K N K Road (Backside): Rs 1,100 per sq.ft (2024)
• Block 8 K.N.Kuppusamy Pillai Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Block 8 Gandhipuram Huts

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Block 8 Gandhipuram Huts?

The Sub Registrar Office that covers Block 8 Gandhipuram Huts 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 factor in the registration process when buying or selling property in Ward C. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the amount of tax payable during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transaction.

Frequently asked questions

What is the current guideline value of Block 8 Gandhipuram Huts?

The current guideline value of Block 8 Gandhipuram Huts is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 131 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, representing an overall increase of +488% over the years.

What are the stamp duty and registration fees for property in Block 8 Gandhipuram Huts?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty at 7% is Rs 53,900, and the registration fee at 2% is Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this area?

The Erode Joint I Sub Registrar Office covers Block 8 Gandhipuram Huts, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for Block 8 Gandhipuram Huts?

Block 8 Gandhipuram Huts is classified under Residential Class III Type - II, indicating its designation for residential use.