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 2 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 revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 10,000 per sq.ft, which increased to Rs 10,900 per sq.ft in the 2024 revision, marking a change of +9%.

With the 2024 revision, the guideline value reflects the current market conditions and the area's classification. The increase from 2023 to 2024 signifies adjustments made to align with the current real estate landscape.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 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 in this area is Rs 8,800 per sq.ft, and Poes Road 1st Street's 2024 figure of Rs 10,900 per sq.ft 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 rate of Rs 10,900 per sq.ft, the guideline value would be Rs 1,09,00,000. The stamp duty at 7% would amount to Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, totaling Rs 9,81,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poes Road 1st Street?

The Sub Registrar Office that covers Poes Road 1st Street is 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the legal requirements set by the authorities. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions.

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 has the guideline value changed over the years?

The guideline value has increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a change of +9%.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, and Poes Road 1st Street's 2024 figure is above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,09,00,000, the stamp duty would be Rs 7,63,000 and the registration fee would be Rs 2,18,000, totaling Rs 9,81,000.

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.