Guideline Value for Naval Hospital 9th lane

Naval Hospital 9th lane guideline value

The current guideline value for Naval Hospital 9th lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class III Type - III.

How the guideline value of Naval Hospital 9th lane has changed

The guideline value for Naval Hospital 9th lane has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the current figure for 2024 is Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

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

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, with a median value of Rs 4,800 per sq.ft. The guideline value for Naval Hospital 9th lane is below this median.

• Naval Hospital 8th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital Road: Rs 6,000 per sq.ft (2024)
• Naval Hospital 7th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 6th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 5th 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 9th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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 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 9th lane?

The Sub Registrar Office that covers Naval Hospital 9th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more assistance.

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. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When registering a property, buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Naval Hospital 9th lane?

The current guideline value for Naval Hospital 9th 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 increased from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 450% over the years.

What is the registration office for Naval Hospital 9th lane?

The registration office for Naval Hospital 9th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

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