Guideline Value for Naval Hospital 17th lane

Naval Hospital 17th lane guideline value

The current guideline value of Naval Hospital 17th lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Naval Hospital 17th lane has changed

The guideline value for Naval Hospital 17th lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 450%.

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. The median guideline value in this area is Rs 4,800 per sq.ft, indicating that Naval Hospital 17th lane's 2024 figure is below this median.

• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 18th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 15th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 19th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 14th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 17th 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naval Hospital 17th lane?

The Naval Hospital 17th lane falls under 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 in property transactions in Vepery, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to understand that the guideline value may differ from the actual sale price of a property. The registration process will require payment based on the higher of the guideline value or the sale price, ensuring that the government receives its due fees.

Frequently asked questions

What is the current guideline value of Naval Hospital 17th lane?

The current guideline value of Naval Hospital 17th 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 from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Naval Hospital 17th lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Periamet Sub Registrar Office covers Naval Hospital 17th lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Vepery?

The median guideline value in Vepery is Rs 4,800 per sq.ft, indicating that Naval Hospital 17th lane's guideline value is below this median.