Guideline Value for ASPIRE

Aspire guideline value

The current guideline value of Aspire, located in Ramanathapuram village under the Peelamedu SRO, is Rs 4,190 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Aspire has changed

In the 2023 revision, the guideline value for Aspire was Rs 3,805 per sq.ft. This marked an increase of 10% from the previous year's value. The register has no figure for this street in the revisions from 2002, 2003, 2007, 2012, and 2017.

As of the 2024 revision, the guideline value is set at Rs 4,190 per sq.ft. This represents a significant increase compared to the 2023 figure, reflecting the adjustments made in the guideline value register.

Guideline values in Ramanathapuram

Within Ramanathapuram, there are 81 streets under the Peelamedu SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 5,750 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Aspire's 2024 figure above that median. Here are some other streets in Ramanathapuram:

• Athumedu: Rs 1,000 per sq.ft (2024)
• Arunachalam Colony: Rs 1,700 per sq.ft (2024)
• Arumuga Nadar Street: Rs 1,700 per sq.ft (2024)
• Arumugam Nagar: Rs 1,700 per sq.ft (2024)
• Ayyavannan Lane: Rs 1,000 per sq.ft (2024)
• Aranyaka Lay Out: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Aspire

For a 1,000 sq.ft plot at the current guideline value of Rs 4,190 per sq.ft, the total guideline value amounts to Rs 41,90,000. The stamp duty at 7% would be Rs 2,93,300, and the registration fee at 2% would be Rs 83,800, bringing the total to Rs 3,77,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aspire?

The Aspire area is covered by the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18 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 Ramanathapuram

The guideline value is an essential component in the registration process of property transactions in Ramanathapuram. When you buy or sell a property, the guideline value determines the minimum value at which the property can be registered, ensuring compliance with local regulations.

It is crucial for buyers and sellers to be aware of the guideline value as it affects the stamp duty and registration fees applicable during the transaction. The registration office uses this value to calculate the necessary fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Aspire?

The current guideline value of Aspire is Rs 4,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,805 per sq.ft in 2023 to Rs 4,190 per sq.ft in 2024, representing a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Aspire?

The land classification for Aspire is Residential Special Type - IV, indicating the specific use and zoning of the land in this area.

What are the registration fees for property in Aspire?

The registration fees for property in Aspire depend on the guideline value. For example, for a 1,000 sq.ft plot, the total registration fees would be Rs 3,77,100, which includes stamp duty and registration fees.

Where can I find the Sub Registrar Office for Aspire?

The Peelamedu Sub Registrar Office covers Aspire and is located at 6/1, Grd Road, Redfields, Coimbatore - 18. You can find more information by visiting the appropriate link.