Guideline Value for VICTORIA HOSPITAL ROAD

Victoria Hospital Road guideline value

The current guideline value of Victoria Hospital Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Special Type - V.

How the guideline value of Victoria Hospital Road has changed

The guideline value for Victoria Hospital Road has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has raised it further to Rs 2,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value dropped by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 8%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Victoria Hospital Road is below this median.

• Vijaya Narayana Doss Salai: Rs 6,600 per sq.ft (2024)
• Vijaya Narayana Doss Salai (Huts): Rs 5,500 per sq.ft (2024)
• Venkatrangam Pillai Street: Rs 8,800 per sq.ft (2024)
• Venkatrangam Pillai lane: Rs 6,600 per sq.ft (2024)
• Venkatrangam Pillai 2nd Lane: Rs 6,600 per sq.ft (2024)
• Venkatesan Naicken Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Victoria Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Victoria Hospital Road?

The Sub Registrar Office that covers Victoria Hospital Road is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

When buying or selling property in Triplicane, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. It serves as a reference point for the valuation of the property, ensuring that the transaction is registered at a fair value as per the government standards.

During the registration process, the buyer must pay the stamp duty based on the higher value between the guideline value and the agreed sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Victoria Hospital Road?

The current guideline value of Victoria Hospital Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Victoria Hospital Road?

Victoria Hospital Road is classified as Residential Special Type - V, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions in this area?

The stamp duty for property transactions in Victoria Hospital Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Victoria Hospital Road located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, and it covers the registration of properties in this area.