Guideline Value for LIFE LINE HOSPITAL

Life Line Hospital guideline value

The current guideline value for Life Line Hospital is Rs 8,800 per sq.ft, effective from 1 July 2024. This property is located in Palavakkam village under the Neelankarai SRO, classified as Commercial Special Type - I.

How the guideline value of Life Line Hospital has changed

Over the years, the guideline value for Life Line Hospital has seen several revisions. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in 2017. Following this, the value increased significantly to Rs 8,000 per sq.ft in 2023, and finally rose to Rs 8,800 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the value saw a decrease of 33% from the 2012 revision to the 2017 revision. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Life Line Hospital above this median.

• Mahatma Gandhi Street: Rs 2,800 per sq.ft (2024)
• Lakshmana Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Lakshmana Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Lakshmana Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Lakshmana Nagar: Rs 3,900 per sq.ft (2024)
• Kuppam 6th Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Life Line Hospital

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Life Line Hospital?

The Life Line Hospital is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Palavakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process. The guideline value can affect the overall cost of purchasing property, including the additional fees associated with registration.

Frequently asked questions

What is the current guideline value for Life Line Hospital?

The current guideline value for Life Line Hospital is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then increased to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Life Line Hospital?

Life Line Hospital is classified as Commercial Special Type - I under the land classification guidelines.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in Life Line Hospital?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 88,00,000, the stamp duty at 7% would amount to Rs 6,16,000.