Guideline Value for Logaiyya Colony 5th Cross Street

Logaiyya Colony 5th Cross Street guideline value

The current guideline value for Logaiyya Colony 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. 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 5th Cross Street has changed

The guideline value for Logaiyya Colony 5th Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 122%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw an increase to Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,400 per sq.ft, a change of 10% from the previous year.

Notably, there are no figures available 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, with 2024 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 the same as the 2024 figure for Logaiyya Colony 5th Cross Street. Below are the guideline values for other streets in Saligramam:

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

Stamp duty and registration fee for property in Logaiyya Colony 5th 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 to Rs 3,96,000. It is important to note that the 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 5th Cross Street?

The Sub Registrar Office that covers Logaiyya Colony 5th 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 plays a crucial role during property registration in Saligramam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is advisable to consult the guideline value to ensure compliance with the registration requirements. This helps in understanding the financial implications of the transaction and ensuring that all necessary fees are accounted for.

Frequently asked questions

What is the current guideline value for Logaiyya Colony 5th Cross Street?

The current guideline value for Logaiyya Colony 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144%.

What is the land classification for Logaiyya Colony 5th Cross Street?

The land classification for Logaiyya Colony 5th Cross Street is Residential Class II Type - I.

Where is the Sub Registrar Office for this area located?

The Virugambakkam Sub Registrar Office is 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 guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 44,00,000.