Coimbatore district collector, Kranthi Kumar Pati, has announced a significant update about the recommendations on property value as stipulated under Section 47AA of the Tamilnadu Stamp Act.
The new Regulations which have been detailed under the year 2010 rules, specific to Rule 4(2), make it mandatory for the creation of the Central Valuation Committee, established on April 26, 2024. The committee will oversee the assessment, and revision of guidance values for properties across different revenue villages with districts.
Draft guideline registers befitting these recommendations are prepared for each revenue village and are on display for the public at several important government offices, including the Tahsildar and Sub-Registrar offices. Ensuring accessibility and openness in property appraisals is the purpose of the action, which would facilitate better governance.
To keep the public informed about these developments, all relevant information has also been put on the official website, www.tnreginet.gov.in. The district administration of Coimbatore has given the public 15 days to either comment on or contest the changes. This report to the Deputy Valuation Committee is to be immediately received by the District Collector’s office in Coimbatore.
These enhancements ensure that all interested parties are fully informed and allowed an opportunity to provide input, reflecting the Coimbatore administration’s commitment to maintaining equity and clarity in the property assessment process in Real Estate Coimbatore.