Guideline Value for Naval Hospital 12th lane

Naval Hospital 12th lane guideline value

The current guideline value of Naval Hospital 12th lane is Rs 3,300 per sq.ft. 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 12th lane has changed

The guideline value for Naval Hospital 12th lane has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure then decreased to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft effective from 1 July 2024.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, 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 of Naval Hospital 12th lane is below this median.

• Naval Hospital 11th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 13th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 10th 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 12th 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, bringing the total to 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 12th lane?

The Sub Registrar Office that covers Naval Hospital 12th lane is 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 crucial factor when buying or selling property in Vepery. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to determine the official value of the property for taxation purposes. 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 Naval Hospital 12th lane?

The current guideline value of Naval Hospital 12th 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, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, it has increased by 450% from Rs 600 per sq.ft in 2007 to the current rate.

What is the classification of land in Naval Hospital 12th lane?

The land classification for Naval Hospital 12th lane is Residential Class III Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Naval Hospital 12th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.