Guideline Value for Peters Lane

Peters Lane guideline value

The current guideline value of Peters Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Peters Lane has changed

The guideline value for Peters Lane has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 916 per sq.ft. This increased to Rs 1,005 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,650 per sq.ft in 2007, which was a 64% increase. In 2012, the value changed to Rs 7,000 per sq.ft, reflecting a substantial increase of 324%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is a 64% increase from 2017. The register does not have a figure for Peters Lane for the year 2023.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 741%. This illustrates the significant changes in the value of properties along Peters Lane over the years.

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 for these streets is Rs 6,600 per sq.ft, placing Peters Lane's 2024 figure above this median.

• Peters Road (North Side): Rs 13,200 per sq.ft (2024)
• Peyalwar Street: Rs 7,700 per sq.ft (2024)
• Perumal Mudali Street: Rs 7,700 per sq.ft (2024)
• Perumal Mudali Road: Rs 7,700 per sq.ft (2024)
• Pillaiyar Koil 1st lane: Rs 6,600 per sq.ft (2024)
• Pillaiyar Koil 2nd lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Peters Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Peters Lane?

Peters Lane falls under the jurisdiction of the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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 applicable to the transaction, ensuring that both parties are aware of the financial implications involved.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. 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 Peters Lane?

The current guideline value of Peters Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, starting from Rs 916 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 741% over the years.

What is the land classification for Peters Lane?

Peters Lane is classified as Mixed Type - II land, which indicates the nature of the properties and land use in the area.

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.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 5,39,000.