Guideline Value for Logaiyya Colony 1st Cross Street

Logaiyya Colony 1st Cross Street guideline value

The current guideline value of Logaiyya Colony 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, classified as Residential Class II Type - I.

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

The guideline value for Logaiyya Colony 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 122%. However, this value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The following revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

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 is Rs 4,400 per sq.ft, which is equal to the current value of Logaiyya Colony 1st Cross Street.

• Logaiyya Colony 1st Street: Rs 5,500 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 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Logaiyya Colony 1st Cross Street?

The Sub Registrar Office that covers Logaiyya Colony 1st Cross 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 in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

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

The current guideline value of Logaiyya Colony 1st Cross Street is Rs 4,400 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 4,400 per sq.ft in 2024, reflecting a total increase of 144% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles registrations for Logaiyya Colony 1st Cross Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is registered accurately and reflects the current market conditions.