Guideline Value for Peter Street

Peter Street guideline value

The current guideline value of Peter Street in Selaiyur village, under the Selaiyur SRO, is Rs 950 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - II.

How the guideline value of Peter Street has changed

Peter Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 900 per sq.ft in the 2023 revision, and finally, it increased to Rs 950 per sq.ft in the 2024 revision, marking a 6% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 6%. It is important to note that the register has no figures for Peter Street for the years 2002, 2003, and 2007.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Peter Street's 2024 figure is below this median.

• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,800 per sq.ft (2024)
• Periyalwar Street: Rs 2,400 per sq.ft (2024)
• Poonga Street: Rs 1,600 per sq.ft (2024)
• Pattel Street: Rs 1,300 per sq.ft (2024)
• Porur Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Peter Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty would be charged at 7%, amounting to Rs 66,500, while the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. 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 Peter Street?

The Sub Registrar Office covering Peter Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a reference point used by the government to determine the stamp duty and registration fees applicable during property transactions. When buying or selling property in Selaiyur, the guideline value helps in assessing the official value of the property, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with the registration process. The guideline value serves as a basis for calculating taxes and fees, which are mandatory during property transactions.

Frequently asked questions

What is the current guideline value of Peter Street?

The current guideline value of Peter Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification of Peter Street?

Peter Street is classified as Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Peter Street?

Stamp duty for properties in Peter Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 at a rate of 7%.