Guideline Value for Logappa Naidu Street

Logappa Naidu Street guideline value

The current guideline value of Logappa Naidu Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Logappa Naidu Street has changed

Since the 2002 revision, the guideline value for Logappa Naidu Street has seen significant changes. In 2002, the value was Rs 247 per sq.ft, which increased to Rs 272 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 500 per sq.ft in 2007, showing an 84% increase. Following that, the 2012 revision set the value at Rs 1,200 per sq.ft, a substantial 140% increase from the previous figure. However, in 2017, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%.

In the subsequent revisions, the guideline value increased again. The 2023 revision set the value at Rs 1,200 per sq.ft, which then rose to Rs 1,300 per sq.ft in 2024, an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 426%.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which is equal to the guideline value of Logappa Naidu Street.

• Malaiathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Kuyavar Street: Rs 1,300 per sq.ft (2024)
• Manickam Pillai Street: Rs 1,300 per sq.ft (2024)
• Menambedu Main Road: Rs 2,300 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Logappa Naidu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Logappa Naidu Street?

The Sub Registrar Office that covers Logappa Naidu Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mannurpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Logappa Naidu Street?

The current guideline value of Logappa Naidu Street is Rs 1,300 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 247 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 426%.

What are the stamp duty rates for property in Logappa Naidu Street?

The stamp duty for property transactions in Logappa Naidu Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Logappa Naidu Street?

The Konnur Sub Registrar Office handles property registrations for Logappa Naidu Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value for streets in Mannurpet?

The median guideline value for streets in Mannurpet is Rs 1,300 per sq.ft, which is the same as the guideline value for Logappa Naidu Street in 2024.