Guideline Value for NavalHospital 18th lane

NavalHospital 18th lane guideline value

The current guideline value for NavalHospital 18th 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 NavalHospital 18th lane has changed

The guideline value for NavalHospital 18th 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, marking a 400% increase. However, this value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing NavalHospital 18th lane's 2024 value below this median.

• Naval Hospital 17th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 19th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 1st lane: Rs 3,300 per sq.ft (2024)
• Naval hospital 15th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 20th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in NavalHospital 18th 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 fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers NavalHospital 18th lane?

The Sub Registrar Office that covers NavalHospital 18th 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 in the registration process when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the official rates set by the government. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of NavalHospital 18th lane?

The current guideline value of NavalHospital 18th 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 other streets in Vepery with the same guideline value?

Other streets in Vepery with the same guideline value of Rs 3,300 per sq.ft include Naval Hospital 17th lane, Naval Hospital 19th lane, Naval Hospital 16th lane, Naval Hospital 1st lane, Naval hospital 15th lane, and Naval Hospital 20th lane.

What fees are associated with buying property in NavalHospital 18th lane?

When buying property in NavalHospital 18th lane, the total fees include stamp duty at 7% and a registration fee at 2% based on the guideline value. For example, a 1,000 sq.ft plot would incur total fees of Rs 2,97,000.

Where can I find the Sub Registrar Office for NavalHospital 18th lane?

The Sub Registrar Office for NavalHospital 18th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.