As of now the following works perfectly with python 3 .
logging.basicConfig(level=logging.DEBUG,
format='%(asctime)s %(levelname)-8s %(message)s',
datefmt='%Y/%m/%d %H:%M:%S.%03d',
filename=self.log_filepath,
filemode='w')
gives the following output
2020/01/11 18:51:19.011 INFO