Guideline Value for Loganathan Street (G.M. Nagar)

Loganathan Street (G.M. Nagar) guideline value

The current guideline value of Loganathan Street (G.M. Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Loganathan Street (G.M. Nagar) has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2024 revision, marking a significant change of 64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions with figures are from 2017 and 2024, with the 2024 figure reflecting the latest valuation. The absence of figures for other years indicates that the guideline value remained unrecorded during those periods.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Loganathan Street (G.M. Nagar) below this median.

• Loganathan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Loganathan Street: Rs 2,200 per sq.ft (2024)
• Lingesan Street (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• Lingesan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• lingasan Street: Rs 2,700 per sq.ft (2024)
• Lenin Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Street (G.M. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loganathan Street (G.M. Nagar)?

The Madhavaram Sub Registrar Office covers Loganathan Street (G.M. Nagar). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Therefore, understanding the guideline value is important for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Loganathan Street (G.M. Nagar)?

The current guideline value of Loganathan Street (G.M. Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a change of 64%.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median value being Rs 2,700 per sq.ft.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Loganathan Street (G.M. Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.