Guideline Value for LOGANATHAN STREET

Loganathan Street guideline value

The current guideline value of Loganathan Street in Vanagaram village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Loganathan Street has changed

The guideline value for Loganathan Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Loganathan Street is below this median.

• Madura Sekmaniyam: Rs 1,320 per sq.ft (2024)
• Kuppusamy Naickar Street: Rs 1,100 per sq.ft (2024)
• Meetpar Nagar: Rs 1,100 per sq.ft (2024)
• Krishna Nagar: Rs 1,100 per sq.ft (2024)
• Krishna Industries: Rs 1,100 per sq.ft (2024)
• Mettukuppam - Anna 1st Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loganathan Street?

The Sub Registrar Office that covers Loganathan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the 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 Loganathan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Loganathan Street?

Loganathan Street is classified as Residential Class IV Type - III.

How does the guideline value compare to other streets in Vanagaram?

The guideline value of Loganathan Street at Rs 1,100 per sq.ft is below the median value of Rs 1,660 per sq.ft for other streets in Vanagaram.

Where is the Sub Registrar Office for Loganathan Street located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.