Guideline Value for Poes Road

Poes Road guideline value

The current guideline value of Poes Road 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 has changed

There are no figures available for the revisions from the years 2002, 2003, 2007, 2012, and 2017 for Poes Road. The guideline value was Rs 10,000 per sq.ft in the 2023 revision, which increased by 9% to Rs 10,900 per sq.ft in the 2024 revision.

This change reflects the latest adjustment in the guideline value register, which is maintained by the Registration Department. The increase from 2023 to 2024 signifies a notable revision in the valuation of properties in this area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 these streets is Rs 8,800 per sq.ft, placing Poes Road's 2024 figure above this median.

• Poes Garden: Rs 19,800 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 Road

For a 1,000 sq.ft plot at the current rate of Rs 10,900 per sq.ft, the 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Poes Road?

The Sub Registrar Office that covers Poes Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value, ensuring that the appropriate taxes are applied based on the established rates.

Frequently asked questions

What is the current guideline value of Poes Road?

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

How has the guideline value changed over the years?

There are no figures available for the revisions from the years 2002, 2003, 2007, 2012, and 2017. The guideline value increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, marking a 9% increase.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with Poes Garden at Rs 19,800 per sq.ft and several streets including Poes Road 1st, 2nd, 3rd, and 4th Streets at Rs 10,900 per sq.ft.

How is stamp duty calculated for properties on Poes Road?

Stamp duty for properties on Poes Road is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 9,81,000.

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

The Sub Registrar Office for Poes Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.