Guideline Value for Perkins Lane

Perkins Lane guideline value

The current guideline value of Perkins Lane, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Perkins Lane has changed

The guideline value for Perkins Lane has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2023 to 2024, there was an increase of 8%. The jump from 2017 to 2023 was a notable 49%. The value fluctuated between 2012 and 2017 with a decrease of 33%, while it doubled from 2007 to 2012 with a 100% increase. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Perkins Lane's 2024 figure below that median.

• Periyar Street: Rs 1,300 per sq.ft (2024)
• Periyar Salai: Rs 1,300 per sq.ft (2024)
• Periyar Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil East Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Perkins Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Perkins Lane?

The Sub Registrar Office that covers Perkins Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price as per the government norms. It helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Perkins Lane?

The current guideline value of Perkins Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 117% over the years.

What is the land classification for Perkins Lane?

Perkins Lane is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Perkins Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.