Guideline Value for LOGANATHAN COLONY

Loganathan Colony guideline value

The current guideline value of Loganathan Colony is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class IV Type - III.

How the guideline value of Loganathan Colony has changed

The guideline value for Loganathan Colony has undergone several revisions over the years. In 2002, the guideline value was Rs 783 per sq.ft, which increased to Rs 1,246 per sq.ft in 2003, marking a change of +59%. The value then rose to Rs 1,540 per sq.ft in 2007, showing an increase of +24%. Following this, the 2012 revision set the value at Rs 6,500 per sq.ft, reflecting a significant jump of +322% from the previous figure. The most recent revision in 2024 has established the guideline value at Rs 7,100 per sq.ft, which is a +9% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for Loganathan Colony. Overall, from 2002 to 2024, the guideline value has increased by +807%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Loganathan Colony's 2024 figure below that median.

• Loop 1st Street: Rs 8,200 per sq.ft (2024)
• Loop 2nd Street: Rs 8,200 per sq.ft (2024)
• Loop Road (Govt.Quarters): Rs 8,200 per sq.ft (2024)
• Loop Street (C.I.T. Colony): Rs 9,900 per sq.ft (2024)
• Loop Street (Mandavelipakkam): Rs 3,300 per sq.ft (2024)
• Lloyds Road (RH Road to Gowdia Madam Salai): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loganathan Colony?

The Sub Registrar Office that covers Loganathan Colony is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value is referenced to determine the minimum price at which the property can be registered. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Loganathan Colony?

The current guideline value of Loganathan Colony is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 783 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of +807% over this period.

What are the stamp duty and registration fees for property in Loganathan Colony?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office is responsible for Loganathan Colony?

The Mylapore Sub Registrar Office is responsible for Loganathan Colony, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Loganathan Colony?

The land classification for Loganathan Colony is Residential Class IV Type - III.