Guideline Value for Logaiyya Street

Logaiyya Street guideline value

The current guideline value of Logaiyya Street in Saligramam village, under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - III.

How the guideline value of Logaiyya Street has changed

The guideline value for Logaiyya Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision saw the value rise to Rs 5,000 per sq.ft, and the most recent 2024 revision set the guideline value at Rs 5,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 206%. The changes between the revisions include a 178% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 guideline value for these streets is Rs 4,400 per sq.ft, making Logaiyya Street's 2024 figure of Rs 5,500 per sq.ft above the median.

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

Stamp duty and registration fee for property in Logaiyya 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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges 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. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Logaiyya Street?

The Virugambakkam Sub Registrar Office covers Logaiyya Street. The office is 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 applicable to the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Logaiyya Street?

The current guideline value of Logaiyya 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 are the guideline values for other streets in Saligramam?

Other streets in Saligramam have varying guideline values, with rates ranging from Rs 2,750 to Rs 13,200 per sq.ft. Logaiyya Street's value is above the median of Rs 4,400 per sq.ft.

What fees are associated with buying property on Logaiyya Street?

When purchasing property on Logaiyya Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Logaiyya Street located?

The Virugambakkam Sub Registrar Office, which covers Logaiyya Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.