Guideline Value for Akastin Pattai

Akastin Pattai guideline value

The current guideline value of Akastin Pattai, located in Ward 10 under the Peelamedu SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and pertains to land classified as Residential Class II Type - I.

How the guideline value of Akastin Pattai has changed

The guideline value for Akastin Pattai has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 570 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, followed by a drop to Rs 804 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 1,200 per sq.ft, and the most recent revision in 2024 set it at Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between revisions, there have been notable changes. From 2007 to 2012, the value increased by 111%, but then it decreased by 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 132%.

Guideline values in Ward 10

In Ward 10 under the Peelamedu SRO, there are 224 streets carrying a guideline value for 2024, ranging from Rs 1,000 to Rs 7,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Akastin Pattai's 2024 figure is below that median.

• Almelu Mangamal Ammal Lauout 1 & 2: Rs 1,320 per sq.ft (2024)
• Ammankulam North Street: Rs 1,760 per sq.ft (2024)
• Ammankulam Road,: Rs 2,200 per sq.ft (2024)
• Ammankulam South Street 1 & 2: Rs 1,760 per sq.ft (2024)
• Amman Nagar: Rs 1,320 per sq.ft (2024)
• Andhoniyar Kovil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Akastin Pattai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Akastin Pattai?

The Akastin Pattai area falls under the jurisdiction of the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Ward 10

The guideline value plays a crucial role in the registration process of property transactions in Ward 10. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

Frequently asked questions

What is the current guideline value of Akastin Pattai?

The current guideline value of Akastin Pattai is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 570 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 132% since 2007.

What are the other streets in Ward 10 with similar guideline values?

Other streets in Ward 10 with similar guideline values include Almelu Mangamal Ammal Lauout 1 & 2 and Amman Nagar, both at Rs 1,320 per sq.ft in 2024.

What fees are associated with property transactions in Akastin Pattai?

Property transactions in Akastin Pattai incur stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Akastin Pattai?

The Peelamedu Sub Registrar Office covers Akastin Pattai and is located at 6/1, Grd Road, Redfields, Coimbatore - 18.