Guideline Value for Poes Road 1st Street

Poes Road 1st Street guideline value

The current guideline value of Poes Road 1st Street is Rs 10,900 per sq.ft. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poes Road 1st Street has changed

The guideline value for Poes Road 1st Street has seen various revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 10,000 per sq.ft, which increased by 9% to Rs 10,900 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline values over time, with the most recent figure effective from 1 July 2024. The 2024 value is higher than the previous year's figure, indicating a notable change in the valuation for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Poes Road 1st Street's current guideline value is above this median.

• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Garden: Rs 19,800 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 Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, bringing the total to Rs 9,81,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poes Road 1st Street?

Poes Road 1st Street 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 more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor during property transactions in Mylapore Part 1. It serves as a reference for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value helps in calculating the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Poes Road 1st Street?

The current guideline value of Poes Road 1st Street is Rs 10,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 10,000 per sq.ft to Rs 10,900 per sq.ft, marking a 9% increase.

What is the land classification for Poes Road 1st Street?

The land classification for Poes Road 1st Street is Residential Class I Type - I.

Which office handles registrations for Poes Road 1st Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Poes Road 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,09,00,000, the stamp duty would be Rs 7,63,000 at a rate of 7%.