Guideline Value for Logus Garden

Logus Garden guideline value

The current guideline value of Logus Garden, located in Kurumbarai village under the Madurandakam SRO, is Rs 100 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Logus Garden has changed

Over the years, the guideline value of Logus Garden has seen several revisions. The 2007 revision set the value at Rs 20 per sq.ft, which increased to Rs 50 per sq.ft in 2012. However, there was a decrease to Rs 33 per sq.ft in 2017. The 2023 revision maintained the value at Rs 100 per sq.ft, which remains unchanged in the 2024 revision.

In terms of percentage changes, from 2007 to 2012, there was an increase of 150%. The value then decreased by 34% from 2012 to 2017. A significant rise of 203% occurred from 2017 to 2023, leading to the current guideline value of Rs 100 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kurumbarai

In Kurumbarai, there are four streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 103 per sq.ft. Logus Garden's 2024 figure is below the median value of Rs 103 per sq.ft. The other streets in Kurumbarai are as follows:

• Lotus Garden: Rs 103 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 103 per sq.ft (2024)
• Tulip City: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Logus Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Logus Garden?

The Sub Registrar Office that covers Logus Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kurumbarai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty based on this value.

When a buyer purchases a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Logus Garden?

The current guideline value of Logus Garden is Rs 100 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 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, with various revisions in between.

What are the other streets in Kurumbarai with guideline values?

Other streets in Kurumbarai include Lotus Garden, Selva Ganapathy Nagar, and Tulip City, all of which have a guideline value of Rs 103 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Logus Garden?

The stamp duty for a property in Logus Garden is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 9,000.

Where is the Sub Registrar Office for Logus Garden located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.