Guideline Value for Poes Garden

Poes Garden guideline value

The current guideline value of Poes Garden is Rs 19,800 per sq.ft, effective from 1 July 2024. This area falls under Mylapore Part 2 village and is governed by the Chennai Central Joint I SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Poes Garden has changed

The guideline value for Poes Garden has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 18,000 per sq.ft, which was then increased by 10% to Rs 19,800 per sq.ft in the 2024 revision.

In summary, the guideline value increased from Rs 18,000 per sq.ft in 2023 to Rs 19,800 per sq.ft in 2024. This significant change reflects the current valuation of the property in Poes Garden.

Guideline values in Mylapore Part 2

Mylapore Part 2 comprises 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Poes Garden's 2024 value above the median.

• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 4th Street: Rs 10,900 per sq.ft (2024)
• Play Ground View Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poes Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 19,800 per sq.ft, the total guideline value amounts to Rs 1,98,00,000. The stamp duty at 7% would be Rs 13,86,000, and the registration fee at 2% would be Rs 3,96,000, bringing the total fees to Rs 17,82,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poes Garden?

Poes Garden is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to understand the financial implications of the transaction. This value is essential for calculating the applicable duties and fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Poes Garden?

The current guideline value of Poes Garden is Rs 19,800 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 18,000 per sq.ft in 2023 to Rs 19,800 per sq.ft in 2024.

What is the land classification for Poes Garden?

Poes Garden is classified as Residential Special Type - II under the land classification regulations.

What is the median guideline value for Mylapore Part 2?

The median guideline value for Mylapore Part 2 is Rs 8,800 per sq.ft, with Poes Garden's 2024 value being above this median.

Where can I find the Sub Registrar Office for Poes Garden?

The Sub Registrar Office covering Poes Garden is the Chennai Central Joint I SRO, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.