Guideline Value for Logaiyya Colony 4th Cross Street

Logaiyya Colony 4th Cross Street guideline value

The current guideline value of Logaiyya Colony 4th Cross Street is Rs 4,400 per sq.ft. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Logaiyya Colony 4th Cross Street has undergone several revisions over the years. The earliest recorded figure is Rs 1,800 per sq.ft in 2007. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 122% rise. However, it then dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 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 that carry 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, which is equal to the current guideline value of Logaiyya Colony 4th Cross Street.

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

Stamp duty and registration fee for property in Logaiyya Colony 4th 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 to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Logaiyya Colony 4th Cross Street?

The Sub Registrar Office that covers Logaiyya Colony 4th 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a reference point for determining the minimum value at which property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Logaiyya Colony 4th Cross Street is Rs 4,400 per sq.ft as of the 2024 revision.

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 an overall increase of 144% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in Logaiyya Colony 4th Cross Street?

The Virugambakkam Sub Registrar Office handles property registrations for Logaiyya Colony 4th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a benchmark for property transactions in the area.