Guideline Value for Naval Hospital 19th lane

Naval Hospital 19th lane guideline value

The current guideline value for Naval Hospital 19th 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 is Residential Class III Type - III.

How the guideline value of Naval Hospital 19th lane has changed

The guideline value for Naval Hospital 19th lane has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which 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, a drop of 33%. Following this, the value surged to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

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

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 for Naval Hospital 19th lane is below this median.

• Naval Hospital 18th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 1st lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 17th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 20th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 2nd lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 19th 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. Please 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 detailed calculations.

Which Sub Registrar Office covers Naval Hospital 19th lane?

The Sub Registrar Office that covers Naval Hospital 19th 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 plays a crucial role when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

Understanding the guideline value is essential for property transactions, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Naval Hospital 19th lane?

The current guideline value of Naval Hospital 19th 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, with several revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Naval Hospital 19th lane?

The land classification for Naval Hospital 19th lane is Residential Class III Type - III.

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

The Sub Registrar Office for Naval Hospital 19th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on 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 and a registration fee of Rs 66,000.