Guideline Value for General Petters Lane

General Petters Lane guideline value

The current guideline value of General Petters Lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of General Petters Lane has changed

The guideline value for General Petters Lane has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 2,760 per sq.ft. This figure increased dramatically to Rs 10,000 per sq.ft in both the 2012 and 2023 revisions, showing a remarkable increase of 262% from 2007 to 2012. However, there was no change from 2012 to 2023. The most recent revision in 2024 raised the guideline value to Rs 11,000 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 299%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

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 guideline value for these streets is Rs 6,600 per sq.ft, indicating that General Petters Lane's 2024 figure is above this median.

• General Patters Road: Rs 15,400 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 Petters Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers General Petters Lane?

The Sub Registrar Office that covers General Petters Lane 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 plays a crucial role in property transactions in Triplicane. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property. The guideline value is set by the Registration Department and reflects the value of the property based on various factors.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of General Petters Lane?

The current guideline value of General Petters Lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,760 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, representing a total increase of 299% over the years.

What is the stamp duty on property in General Petters Lane?

The stamp duty on property in General Petters Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for General Petters Lane located?

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

What is the land classification of General Petters Lane?

The land classification of General Petters Lane is Commercial Class I Type - II, indicating its suitability for commercial activities.