Guideline Value for Logammal Colony

Logammal Colony guideline value

The current guideline value of Logammal Colony is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under Vandalur village and is governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - I.

How the guideline value of Logammal Colony has changed

Over the years, the guideline value of Logammal Colony has seen several revisions. In the 2007 revision, the value was Rs 550 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 173%. However, by the 2017 revision, the value decreased to Rs 1,005 per sq.ft, which was a decline of 33%. The most recent revision in 2023 saw the guideline value return to Rs 1,500 per sq.ft, reflecting an increase of 49% from the previous figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Logammal Colony is part of Vandalur, which is under the jurisdiction of the Gooduvancheri SRO. Unfortunately, there are no specific village figures available for this area. The following are the other streets in Vandalur:

Stamp duty and registration fee for property in Logammal Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Logammal Colony?

The Sub Registrar Office that covers Logammal Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Vandalur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. The guideline value must be considered alongside the sale price to ascertain the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Logammal Colony?

The current guideline value of Logammal Colony is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Logammal Colony?

The land classification for Logammal Colony is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Logammal Colony?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a total of Rs 1,35,000 in fees.