Guideline Value for Logaiyya Colony 4th Street

Logaiyya Colony 4th Street guideline value

The current guideline value of Logaiyya Colony 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Logaiyya Colony 4th Street has changed

Over the years, the guideline value of Logaiyya Colony 4th Street has seen significant changes. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in the 2017 revision. The value then rose to Rs 5,000 per sq.ft in 2023 before reaching the current value of Rs 5,500 per sq.ft in the 2024 revision.

Specifically, the changes between revisions are as follows: from 2007 to 2012, there was an increase of 178%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and finally, from 2023 to 2024, an increase of 10%. Overall, the guideline value has increased by 206% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

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. The median guideline value for these streets is Rs 4,400 per sq.ft, making the current value of Logaiyya Colony 4th Street above this median.

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

Stamp duty and registration fee for property in Logaiyya Colony 4th Street

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 to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Logaiyya Colony 4th Street?

The Sub Registrar Office that covers Logaiyya Colony 4th 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

During the registration process, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Logaiyya Colony 4th Street?

The current guideline value of Logaiyya Colony 4th 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 significantly from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Logaiyya Colony 4th Street?

Logaiyya Colony 4th Street is classified as Residential Special Type - III under the Virugambakkam SRO.

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

The Sub Registrar Office covering Logaiyya Colony 4th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

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%.