Guideline Value for Naval Hospital 20th lane

Naval Hospital 20th lane guideline value

The current guideline value of Naval Hospital 20th 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 20th lane has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 400% rise. However, it decreased to Rs 2,010 per sq.ft in the 2017 revision, which represented a decline of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The current value of Rs 3,300 per sq.ft in the 2024 revision shows a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have 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 20th lane is below this median.

• Naval Hospital 1st lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 2nd lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 19th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 3th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 18th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 4th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 20th lane

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Naval Hospital 20th lane?

The Sub Registrar Office that covers Naval Hospital 20th 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 registering property transactions in Vepery. It is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value serves as a benchmark for determining the minimum value of the property for taxation purposes. This ensures that all transactions are recorded at a fair value according to the prevailing rates set by the registration department.

Frequently asked questions

What is the current guideline value of Naval Hospital 20th lane?

The current guideline value of Naval Hospital 20th 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 seen several revisions, starting 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 rates for property transactions in this area?

The stamp duty rate for property transactions in Naval Hospital 20th lane is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Naval Hospital 20th lane?

The Sub Registrar Office for Naval Hospital 20th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Naval Hospital 20th lane?

Naval Hospital 20th lane is classified as Residential Class III Type - III, indicating its suitability for residential development.