Guideline Value for Naval Hospital 10th lane

Naval Hospital 10th lane guideline value

The current guideline value of Naval Hospital 10th lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Naval Hospital 10th lane has changed

The guideline value for Naval Hospital 10th lane has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 400%. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a drop of 33%. The next revision in 2023 saw the value increase to Rs 3,000 per sq.ft, and in the latest revision for 2024, it has risen to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

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 10th lane is below this median.

• Naval Hospital 11th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 12th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 13th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 14th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 15th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 10th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Naval Hospital 10th lane?

The Naval Hospital 10th lane is covered by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

When buying or selling property in Vepery, the guideline value is used as a benchmark for determining the stamp duty and registration fees. This value is crucial during the registration process, as it ensures that the fees are calculated based on an official rate set by the registration department.

It is important for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. Proper understanding of this value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Naval Hospital 10th lane?

The current guideline value of Naval Hospital 10th 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, marking an overall increase of 450%.

What is the land classification for Naval Hospital 10th lane?

The land classification for Naval Hospital 10th lane is Residential Class III Type - III.

Where can I find the Periamet Sub Registrar Office?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Naval Hospital 10th lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.