Guideline Value for Loganathan Street

Loganathan Street guideline value

The current guideline value of Loganathan Street in Nanmangalam village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Loganathan Street has changed

The guideline value for Loganathan Street has undergone several revisions over the years. In 2002, the value was Rs 66 per sq.ft, which increased to Rs 113 per sq.ft in 2003, marking a change of +71%. By 2007, the value had risen significantly to Rs 300 per sq.ft, reflecting a change of +165%. The 2012 revision saw the value remain at Rs 2,500 per sq.ft, which was a decrease of -33% from the previous figure. The value then increased to Rs 1,675 per sq.ft in 2017, showing a notable increase of +49% from 2012. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has brought it to Rs 2,750 per sq.ft, an increase of +10%.

There are no figures available for the revisions prior to 2002 or after the 2024 revision for Loganathan Street. Overall, from 2002 to 2024, the guideline value has increased by +4067%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the current guideline value of Loganathan Street.

• Lakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Kumar Avenue: Rs 2,750 per sq.ft (2024)
• Mangambal Nagar: Rs 1,960 per sq.ft (2024)
• Maniammai Street: Rs 3,850 per sq.ft (2024)
• Manikandan Nagar: Rs 3,300 per sq.ft (2024)
• Manikandan Nagar 1 To 2 Streets: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Loganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. 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 more detailed calculations.

Which Sub Registrar Office covers Loganathan Street?

The Sub Registrar Office that covers Loganathan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Loganathan Street?

The current guideline value of Loganathan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 66 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, with several revisions in between.

What is the land classification for Loganathan Street?

Loganathan Street is classified as Residential Class I Type - I, which is important for determining its guideline value.

What are the stamp duty and registration fees for property in Loganathan Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Which office handles registrations for Loganathan Street?

The Pallavaram Sub Registrar Office handles registrations for Loganathan Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.