Guideline Value for AKSHRA GARDENS

Akshra Gardens guideline value

The current guideline value of Akshra Gardens is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Somayampalayam village, under the Vadavalli SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Akshra Gardens has changed

Over the years, the guideline value for Akshra Gardens has seen several revisions. The earliest figure available is from 2012, set at Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. The 2023 revision then increased the value to Rs 500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Somayampalayam

In Somayampalayam, 139 streets carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 720 per sq.ft. The guideline value for Akshra Gardens is below this median.

• Ajantha Nagar: Rs 550 per sq.ft (2024)
• Alpha Garden: Rs 825 per sq.ft (2024)
• Altrons Gardens: Rs 550 per sq.ft (2024)
• Adhava City: Rs 550 per sq.ft (2024)
• Abirami Garden - II: Rs 690 per sq.ft (2024)
• Abirami Garden - I: Rs 690 per sq.ft (2024)

Stamp duty and registration fee for property in Akshra Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000. Therefore, the total cost for stamp duty and registration fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akshra Gardens?

The Sub Registrar Office that covers Akshra Gardens is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046, 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 Somayampalayam

The guideline value is a crucial factor when buying or selling property in Somayampalayam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

When a property is sold, the guideline value helps establish a fair price for taxation purposes. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the higher amount is used for calculating associated fees.

Frequently asked questions

What is the current guideline value of Akshra Gardens?

The current guideline value of Akshra Gardens is Rs 550 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 back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Akshra Gardens?

Akshra Gardens is classified under Residential Class I Type - II land classification.

How is stamp duty calculated for properties in Akshra Gardens?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 38,500.

Where is the Sub Registrar Office for Akshra Gardens located?

The Sub Registrar Office for Akshra Gardens is located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046, under the Vadavalli registration zone.