Guideline Value for Poes Road 2nd Street

Poes Road 2nd Street guideline value

The current guideline value of Poes Road 2nd Street is Rs 10,900 per sq.ft, effective from 1 July 2024. 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 2nd Street has changed

The guideline value for Poes Road 2nd Street has seen revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 10,000 per sq.ft, and it increased to Rs 10,900 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, there were no recorded figures for Poes Road 2nd Street in the previous years. The most recent revision reflects a significant increase in the guideline value, aligning with the upward trend observed in the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Poes Road 2nd Street's value above this median.

• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)
• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Road 4th Street: Rs 10,900 per sq.ft (2024)
• Poes Garden: Rs 19,800 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 2nd 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, totaling Rs 9,81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poes Road 2nd Street?

The Sub Registrar Office that covers Poes Road 2nd 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is sold or purchased.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is registered at a value that reflects the prevailing market conditions, thus helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Poes Road 2nd Street?

The current guideline value of Poes Road 2nd 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 for Poes Road 2nd Street has changed from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, which is a +9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Poes Road 2nd Street?

Poes Road 2nd Street is classified as Residential Class I Type - I. This classification is important for determining the usage of the land and its associated guideline value.

Where can I find the Sub Registrar Office for Poes Road 2nd Street?

The Sub Registrar Office for Poes Road 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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. The duty is charged on the higher of the guideline value or the sale price.