Guideline Value for Peters Road (North Side)

Peters Road (North Side) guideline value

The current guideline value of Peters Road (North Side) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Peters Road (North Side) has changed

The guideline value for Peters Road (North Side) has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 12,000 per sq.ft. This was followed by a decrease to Rs 8,040 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 12,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 13,200 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 is an increase of 10%. The 2023 to 2024 revision reflects a 10% increase as well. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 the village is Rs 6,600 per sq.ft, placing Peters Road (North Side) above this median with its value of Rs 13,200 per sq.ft.

• Peters Lane: Rs 7,700 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 Road (North Side)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty, charged at 7%, would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total cost for these fees to Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Peters Road (North Side)?

The Sub Registrar Office that covers Peters Road (North Side) is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Peters Road (North Side)?

The current guideline value of Peters Road (North Side) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then increased to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification for Peters Road (North Side)?

Peters Road (North Side) is classified as Commercial Class I Type - I.

What are the stamp duty and registration fees for a property on Peters Road (North Side)?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for Peters Road (North Side)?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, handles registrations for Peters Road (North Side).