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 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 2nd Street has changed

The guideline value for Poes Road 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 10,900 per sq.ft, which reflects a 9% increase from the 2023 revision of Rs 10,000 per sq.ft. Notably, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded figure was Rs 10,000 per sq.ft in 2023. The absence of figures in earlier revisions indicates that the guideline value for Poes Road 2nd Street had not been updated for several years before 2023.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry 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. The guideline value of Poes Road 2nd Street is 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, making the total cost for these fees 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poes Road 2nd Street?

Poes Road 2nd 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 2

The guideline value is a crucial factor when buying or selling property in Mylapore Part 2. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers should be aware that these fees are determined based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to understand how the guideline value impacts the overall cost. This ensures that all legal obligations are met and that the transaction proceeds smoothly without any unexpected financial burdens.

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 was Rs 10,000 per sq.ft in 2023, which increased by 9% to Rs 10,900 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

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. Poes Road 2nd Street's current guideline value is above this median.

What are the stamp duty and registration fees for a property on Poes Road 2nd Street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Poes Road 2nd Street?

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