Guideline Value for HAPPINEST PHASE V

Happinest Phase V guideline value

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

How the guideline value of Happinest Phase V has changed

The guideline value for Happinest Phase V has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,873 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 2,612 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last known figure was from the 2024 revision. The changes reflect a consistent adjustment in the guideline value, ensuring it aligns with the current market conditions, as evidenced by the increase from 2023 to 2024.

Guideline values in Kalavakkam

In Kalavakkam, there are 27 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median guideline value for these streets is Rs 2,463 per sq.ft, placing the 2024 guideline value of Happinest Phase V above this median.

• Happinest Phase IV: Rs 2,873 per sq.ft (2024)
• Happinest Phase III: Rs 2,873 per sq.ft (2024)
• Happinest Phase II: Rs 1,925 per sq.ft (2024)
• Happinest: 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 V

For a 1,000 sq.ft plot at the current rate of Rs 2,873 per sq.ft, the guideline value amounts to Rs 28,73,000. The stamp duty at 7% would be Rs 2,01,110, and the registration fee at 2% would be Rs 57,460, bringing the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Happinest Phase V?

The Sub Registrar Office that covers Happinest Phase V is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kalavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Happinest Phase V?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,612 per sq.ft in 2023 to Rs 2,873 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values of other streets in Kalavakkam?

Other streets in Kalavakkam have varying guideline values, with rates ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median value for these streets is Rs 2,463 per sq.ft.

What are the stamp duty and registration fees for properties in Happinest Phase V?

For a property valued at 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. The duty is based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Happinest Phase V?

The Thiruporur Sub Registrar Office covers Happinest Phase V, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find more information through the provided link.