Guideline Value for Loganathan Street

Loganathan Street guideline value

The current guideline value of Loganathan Street in Virugambakkam village, under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class IV Type - II.

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 478 per sq.ft, which increased to Rs 530 per sq.ft in 2003, reflecting a change of +11%. The value then rose significantly to Rs 750 per sq.ft in 2007, marking an increase of +42%. Following this, in 2012, the guideline value was revised to Rs 2,500 per sq.ft, which was a substantial jump of +233%. However, from 2012 to 2017, there was a decrease to Rs 1,675 per sq.ft, a change of -33%. The next revision in 2023 set the value at Rs 2,500 per sq.ft, and in 2024, it increased to Rs 2,750 per sq.ft, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +475%. It is important to note that there are no figures in the register for the years not mentioned above.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, indicating that Loganathan Street's 2024 figure is below this median.

• L & T. Colony 1st Street: Rs 4,400 per sq.ft (2024)
• L & T. Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• L & T. Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Lampart Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Lampart Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Lampart Nagar 2nd Cross Street: Rs 5,500 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 amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can find your SRO.

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

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

When a property is registered, the guideline value is considered to ensure that the transaction reflects the appropriate fees based on the established values. Buyers and sellers must be aware of these figures to accurately calculate their costs 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 from Rs 478 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +475% over this period.

What is the land classification for Loganathan Street?

The land classification for Loganathan Street is Residential Class IV Type - II.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the guideline value of Rs 27,50,000.

Where is the Sub Registrar Office for Loganathan Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.