Guideline Value for Logaiyya Colony 1st Street

Logaiyya Colony 1st Street guideline value

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

How the guideline value of Logaiyya Colony 1st Street has changed

The guideline value for Logaiyya Colony 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. Following this, the value saw a substantial increase to Rs 5,000 per sq.ft in 2023, which was a rise of 49%. The latest revision in 2024 set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Logaiyya Colony 1st Street above this median.

• Logaiyya Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Logaiyya Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Logaiyya Colony 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Logaiyya Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. 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 Logaiyya Colony 1st Street?

The Sub Registrar Office that covers Logaiyya Colony 1st Street 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Logaiyya Colony 1st Street?

The current guideline value of Logaiyya Colony 1st Street 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 land classification for Logaiyya Colony 1st Street?

Logaiyya Colony 1st Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Logaiyya Colony 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.