Guideline Value for HAPPINEST PHASE III

Happinest Phase III guideline value

The current guideline value of Happinest Phase III is Rs 2,873 per sq.ft, effective from 1 July 2024. This property is located in Kalavakkam village, under the Thiruporur SRO, and is classified as Mixed Type - I land.

How the guideline value of Happinest Phase III has changed

The guideline value for Happinest Phase III has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,612 per sq.ft, and the most recent 2024 revision increased this to Rs 2,873 per sq.ft, marking a change of +10%.

In summary, the guideline value has increased from Rs 2,612 per sq.ft in 2023 to Rs 2,873 per sq.ft in 2024. The 2024 figure is significantly above the median guideline value of Rs 2,463 per sq.ft for the 27 streets in Kalavakkam under the Thiruporur SRO.

Guideline values in Kalavakkam

In Kalavakkam, the guideline values for various streets range from Rs 1,816 to Rs 4,250 per sq.ft as of 2024. Happinest Phase III's guideline value of Rs 2,873 per sq.ft is above the median value for the area.

• Happinest Phase II: Rs 1,925 per sq.ft (2024)
• Happinest Phase IV: Rs 2,873 per sq.ft (2024)
• Happinest: Rs 2,873 per sq.ft (2024)
• Happinest Phase V: Rs 2,873 per sq.ft (2024)
• Jayam Properties: Rs 2,200 per sq.ft (2024)
• Kandhan Kottam: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Happinest Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,873 per sq.ft, the total guideline value would be Rs 28,73,000. The stamp duty at 7% would amount to Rs 2,01,110, and the registration fee at 2% would be Rs 57,460, bringing the total fees to Rs 2,58,570. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Happinest Phase III?

The Sub Registrar Office that covers Happinest Phase III is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kalavakkam

The guideline value plays a crucial role in the registration process of property transactions in Kalavakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that they are calculated based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial obligations during the registration of property. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Happinest Phase III?

The current guideline value of Happinest Phase III is Rs 2,873 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Happinest Phase III has changed from Rs 2,612 per sq.ft in 2023 to Rs 2,873 per sq.ft in 2024, reflecting a +10% increase.

What is the median guideline value in Kalavakkam?

The median guideline value for the 27 streets in Kalavakkam is Rs 2,463 per sq.ft, with Happinest Phase III's value being above this median.

What are the stamp duty and registration fees for a property in Happinest Phase III?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,73,000. The stamp duty would be Rs 2,01,110, and the registration fee would be Rs 57,460, totaling Rs 2,58,570.

Which office handles the registration for Happinest Phase III?

The registration for Happinest Phase III is handled by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.