Guideline Value for Naval Hospital 6th lane

Naval Hospital 6th lane guideline value

The current guideline value of Naval Hospital 6th 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 6th lane has changed

The guideline value for Naval Hospital 6th lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was 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, a decline of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, followed by another rise to the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. 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 guideline value for 2024, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, indicating that Naval Hospital 6th lane's 2024 figure is below this median.

• Naval Hospital 5th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 7th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 4th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 8th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 3th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 9th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 6th 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, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naval Hospital 6th lane?

The Naval Hospital 6th lane falls under 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

The guideline value plays a crucial role in the registration process of property transactions in Vepery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. This value helps maintain transparency and standardization in the real estate market.

Frequently asked questions

What is the current guideline value of Naval Hospital 6th lane?

The current guideline value of Naval Hospital 6th 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, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Naval Hospital 6th lane?

The Periamet Sub Registrar Office covers Naval Hospital 6th lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring transparency and standardization in the real estate market.