My land one acre out of 613 acres going to be acquired for coimbatore airport expansion G.O,Dtd 20.10.2010, ear marked & 3(2) notice served on march 2011 and our objections heard no more development.
I purchased this land by1983 as agri land and developed factory shed's for 50 cents and in the remaining half 70 coconut trees are there. This land is within the coimbatore corporation limit from the beginning and it comes under domestic class III type I classification, as per stamp act the guideline value is Rs.400/- per sq ft.
The Question: Will the compensation be calculated as domestic land class III type I Rs.400/- per sq ft (2 times as it is within urban limit + 100% solatium + R&R etc..,, as per LARR ) OR
Will it be taken as agri land and a lesser value than Rs.400/- be taken as base value and add other benefits as per LARR bill as said above?
Asked in Property Law from Coimbatore, Tamil Nadu
The compensation will depend upon the classification of the land in the current land records at the registry.