Guideline Value for Naval Hospital 2nd lane

Naval Hospital 2nd lane guideline value

The current guideline value for Naval Hospital 2nd lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class III Type - III.

How the guideline value of Naval Hospital 2nd lane has changed

The guideline value for Naval Hospital 2nd lane has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in the 2023 revision, and as of the 2024 revision, the current value is Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2007 to 2024, the guideline value has increased by 450%. The change from 2012 to 2017 saw a reduction of 33%, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 reflects an increase of 10%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Naval Hospital 2nd lane is below this median.

• Naval Hospital 1st lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 20th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 3th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 4th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 19th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 5th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. 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 Naval Hospital 2nd lane?

The Naval Hospital 2nd lane falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps determine the amount payable for stamp duty, which is calculated as a percentage of either the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value for Naval Hospital 2nd lane?

The current guideline value for Naval Hospital 2nd lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office should I approach for transactions in Naval Hospital 2nd lane?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, covers transactions for Naval Hospital 2nd lane.

Where can I find the guideline values for other streets in Vepery?

Guideline values for other streets in Vepery can be found on the official registration department's website, where you can also access specific values for streets like Naval Hospital 1st lane and Naval Hospital 20th lane, among others.