Guideline Value for Loganathan Street Lane

Loganathan Street Lane guideline value

The current guideline value of Loganathan Street Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification is Residential Special Type - II.

How the guideline value of Loganathan Street Lane has changed

Over the years, the guideline value of Loganathan Street Lane has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, placing Loganathan Street Lane's 2024 figure above this median.

• Loganathan Street: Rs 4,400 per sq.ft (2024)
• Lakshmipuram-Gandhi Road 3rd Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram-Gandhi Road 2nd Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram-Gandhi Road 1st Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram-Gandhi Road: Rs 3,300 per sq.ft (2024)
• Lakshmipuram extn Main: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Street Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, together totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Loganathan Street Lane?

The Sub Registrar Office that covers Loganathan Street Lane is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. To find your SRO, click here.

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

The guideline value is an essential factor in the registration of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Loganathan Street Lane?

The current guideline value of Loganathan Street Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and is currently Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties 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 Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Loganathan Street Lane, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Loganathan Street Lane?

The land classification for Loganathan Street Lane is Residential Special Type - II.