Guideline Value for Naval hospital 15th lane

Naval hospital 15th lane guideline value

The current guideline value of Naval hospital 15th 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 it falls under the Residential Class III Type - III land classification.

How the guideline value of Naval hospital 15th lane has changed

The guideline value for Naval hospital 15th lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. In 2012, it increased significantly to Rs 3,000 per sq.ft, marking a 400% rise. However, by 2017, the value decreased to Rs 2,010 per sq.ft, which is a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, showing a 49% increase. Finally, the current value as of 2024 is Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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. The median guideline value in this area is Rs 4,800 per sq.ft, which means that the guideline value of Naval hospital 15th lane is below this median.

• Naval Hospital 14th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 13th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 17th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 12th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 18th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval hospital 15th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Naval hospital 15th lane?

The Sub Registrar Office that covers Naval hospital 15th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more details, you can find your SRO.

How the guideline value is used when you buy or sell in Vepery

The guideline value is a crucial factor when buying or selling property in Vepery, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Naval hospital 15th lane?

The current guideline value of Naval hospital 15th 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 significantly 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 properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Which Sub Registrar Office is responsible for Naval hospital 15th lane?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, is responsible for Naval hospital 15th lane.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value and the fees payable. It ensures that all property transactions are recorded accurately and fairly.