Guideline Value for LOGA SURYA NAGAR

Loga Surya Nagar guideline value

The current guideline value of Loga Surya Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This locality is situated in Sholavaram village, under the jurisdiction of the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Loga Surya Nagar has changed

The guideline value for Loga Surya Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 600 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sholavaram

In Sholavaram, a total of 98 streets are listed under the Redhills SRO, with the 2024 guideline values ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which aligns with the current guideline value of Loga Surya Nagar.

• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• K.V.T. AVENUE Extn: Rs 770 per sq.ft (2024)
• K.V.T. Avenue: Rs 770 per sq.ft (2024)
• K.V.G.Square: Rs 710 per sq.ft (2024)
• K.V.G. Avenue Extension: Rs 515 per sq.ft (2024)
• K.V.G.Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Loga Surya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, these fees would total Rs 59,400. 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 Loga Surya Nagar?

Loga Surya Nagar falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Loga Surya Nagar?

The current guideline value of Loga Surya Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions. It was Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and then increased to Rs 600 per sq.ft in 2023. The latest revision in 2024 has set it at Rs 660 per sq.ft.

What is the land classification of Loga Surya Nagar?

The land classification for Loga Surya Nagar is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Loga Surya Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.