Guideline Value for General Patters Road

General Patters Road guideline value

The current guideline value of General Patters Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Special Type - II.

How the guideline value of General Patters Road has changed

The guideline value for General Patters Road has seen several revisions over the years. Starting from Rs 6,283 per sq.ft in 2002, it increased to Rs 6,892 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 13,360 per sq.ft in 2007, reflecting a 94% increase. The guideline value remained at Rs 14,000 per sq.ft in both 2012 and 2023, with no figure available for the 2017 revision. The most recent revision in 2024 saw the guideline value rise to Rs 15,400 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 145%. The consistent rise in the guideline value reflects the changing landscape of property valuation in the area.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, making the 2024 guideline value of General Patters Road significantly above this median.

• General Petters Lane: Rs 11,000 per sq.ft (2024)
• General Swamy Street: Rs 6,600 per sq.ft (2024)
• Gazette Begum Street: Rs 5,500 per sq.ft (2024)
• Gopal Doss Salai: Rs 6,600 per sq.ft (2024)
• Gulam Mohamed Street (Gulam Mohideen Street): Rs 5,500 per sq.ft (2024)
• Gulam Murthuza Begum Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in General Patters Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total fees to Rs 13,86,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers General Patters Road?

The Sub Registrar Office that covers General Patters Road is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the property is valued accurately for taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of General Patters Road?

The current guideline value of General Patters Road is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 6,283 per sq.ft in 2002 to Rs 15,400 per sq.ft in 2024, marking an overall increase of 145% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in General Patters Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are the other streets in Triplicane with their guideline values?

Other streets in Triplicane include General Petters Lane at Rs 11,000 per sq.ft, General Swamy Street at Rs 6,600 per sq.ft, and several others, with values ranging from Rs 5,500 to Rs 11,000 per sq.ft.