Guideline Value for POWDER MILL 1ST STREET

Powder Mill 1st Street guideline value

The current guideline value of Powder Mill 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, and the land classification is Residential Class IV Type - I.

How the guideline value of Powder Mill 1st Street has changed

The guideline value for Powder Mill 1st Street has undergone several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,540 per sq.ft in 2007, and then it jumped to Rs 7,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 5,025 per sq.ft in 2017. The value then rose again to Rs 7,500 per sq.ft in 2023 before reaching the current value of Rs 8,200 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is +1073%. The most notable change occurred between 2007 and 2012 with a +387% increase, while the transition from 2017 to 2023 saw a +49% rise. The shift from 2023 to 2024 reflects a +9% increase.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means Powder Mill 1st Street's current value is below this median.

• Powder Mill 2nd Street: Rs 8,200 per sq.ft (2024)
• Powder Mill Street: Rs 8,200 per sq.ft (2024)
• Postal & Telegraph: Rs 8,800 per sq.ft (2024)
• Prasana Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Prasanna Vinayagar Koil 1st Lane: Rs 8,200 per sq.ft (2024)
• Prasanna Vinayagar Koil 2nd Lane: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Powder Mill 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, totaling Rs 7,38,000. It's 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 detailed calculations.

Which Sub Registrar Office covers Powder Mill 1st Street?

The Sub Registrar Office that covers Powder Mill 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Mylapore. It serves as a benchmark for determining the value of the property for registration purposes. When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Powder Mill 1st Street?

The current guideline value of Powder Mill 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of +1073% over this period.

What is the stamp duty rate for properties in Powder Mill 1st Street?

The stamp duty rate for properties in Powder Mill 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Powder Mill 1st Street?

The Sub Registrar Office for Powder Mill 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with similar guideline values include Powder Mill 2nd Street and Powder Mill Street, both at Rs 8,200 per sq.ft in 2024.