Guideline Value for Loganathan Street

Loganathan Street guideline value

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

How the guideline value of Loganathan Street has changed

The guideline value for Loganathan Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the latest 2024 revision has increased it back to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 10%.

It is important to note that the guideline value register does not have figures for Loganathan Street for the years 2002, 2003, 2007, and 2023. The changes in value reflect the adjustments made during the available revision years, showcasing the fluctuations in property valuation over time.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,700 per sq.ft, placing Loganathan Street's current value below this median.

• Loganathan Street (G.M. Nagar): Rs 2,200 per sq.ft (2024)
• Loganathan Street (Krishnamoorthy Nagar): Rs 2,700 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

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

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

Which Sub Registrar Office covers Loganathan Street?

The Sub Registrar Office that covers Loganathan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to assess the applicable charges, ensuring that both buyers and sellers are aware of the financial implications involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Loganathan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values, with Loganathan Street (G.M. Nagar) at Rs 2,200 per sq.ft and Loganathan Street (Krishnamoorthy Nagar) at Rs 2,700 per sq.ft, among others.

What fees are associated with buying property in Loganathan Street?

When buying property in Loganathan Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur total charges of Rs 1,98,000.

Which office handles property registrations for Loganathan Street?

The Madhavaram Sub Registrar Office handles property registrations for Loganathan Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.