Guideline Value for Logavani Street

Logavani Street guideline value

The current guideline value of Logavani Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Logavani Street has changed

The guideline value for Logavani Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. It then decreased to Rs 670 per sq.ft in 2017, before increasing to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, significant changes include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Logavani Street is below this median.

• Lakshmi st extn: Rs 1,100 per sq.ft (2024)
• Lakshmi ST: Rs 2,200 per sq.ft (2024)
• Lakshmi Narasimhan Street: Rs 1,100 per sq.ft (2024)
• Lakshmi cross st: Rs 1,100 per sq.ft (2024)
• Kurinji Street: Rs 1,320 per sq.ft (2024)
• Kurinji Nagar Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Logavani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 details.

Which Sub Registrar Office covers Logavani Street?

The Sub Registrar Office that covers Logavani Street 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, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Logavani Street?

The current guideline value of Logavani Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Logavani Street?

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

What is the land classification of Logavani Street?

Logavani Street is classified as Residential Class II Type - I according to the current land classification.