Guideline Value for Logaiya Maistry Street

Logaiya Maistry Street guideline value

The current guideline value of Logaiya Maistry Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Logaiya Maistry Street has changed

Over the years, the guideline value of Logaiya Maistry Street has seen significant changes. In 2002, the value was Rs 627 per sq.ft, which increased to Rs 692 per sq.ft in 2003, marking a 10% rise. The value then continued to rise to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 73%. Following this, the 2012 revision saw the value at Rs 3,600 per sq.ft, a 200% increase from 2007. However, the value dropped to Rs 2,412 per sq.ft in 2017, representing a decline of 33%.

In 2023, the guideline value was Rs 3,600 per sq.ft, which then increased to Rs 3,900 per sq.ft in the 2024 revision, an 8% rise. Overall, from 2002 to 2024, the guideline value has increased by 522%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, and Logaiya Maistry Street's 2024 figure is below this median.

• Langs Garden Road: Rs 11,000 per sq.ft (2024)
• Landons Salai: Rs 13,400 per sq.ft (2024)
• Lamech Avenue: Rs 13,400 per sq.ft (2024)
• Laksminarayana Perumal Koil Street: Rs 8,300 per sq.ft (2024)
• LakshmiStreet: Rs 11,000 per sq.ft (2024)
• LabbaiSTreet: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Logaiya Maistry Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Logaiya Maistry Street?

The Sub Registrar Office that covers Logaiya Maistry Street 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 Egmore

The guideline value is an essential factor in property transactions, as it determines the stamp duty and registration fees that must be paid. When buying or selling a property, the guideline value is used to calculate these fees, ensuring that the transaction is recorded accurately in the official records.

It is important to note that the guideline value is set by the government and can vary significantly between different areas and streets. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Logaiya Maistry Street?

The current guideline value of Logaiya Maistry Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 627 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 522%.

What is the land classification of Logaiya Maistry Street?

Logaiya Maistry Street is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for Logaiya Maistry Street?

The Sub Registrar Office for Logaiya Maistry Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.