Guideline Value for Logaiyya Colony Main Road

Logaiyya Colony Main Road guideline value

The current guideline value of Logaiyya Colony Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Logaiyya Colony Main Road has changed

The guideline value for Logaiyya Colony Main Road has undergone several revisions over the years. The earliest recorded value is from 2007, set at Rs 1,800 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by another rise to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%, reflecting the changes over the years.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Logaiyya Colony Main Road above this median at Rs 5,500 per sq.ft.

• Logaiyya Colony 5th Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 4th Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Logaiyya Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Logaiyya Colony Main Road?

The Sub Registrar Office that covers Logaiyya Colony Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Saligramam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value for Logaiyya Colony Main Road?

The current guideline value for Logaiyya Colony Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the classification of Logaiyya Colony Main Road?

Logaiyya Colony Main Road is classified as Residential Special Type - III under the Virugambakkam SRO.

Where can I find the Sub Registrar Office for Logaiyya Colony Main Road?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Saligramam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.