Guideline Value for HAPPINEST

Happinest guideline value

The current guideline value of Happinest, located in Thirukkachur - 1 village under the Chengleput Joint II SRO, is Rs 1,320 per sq.ft. The land classification for this area is Residential Special Type - III.

How the guideline value of Happinest has changed

The guideline value for Happinest has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,320 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft, with a median value of Rs 660 per sq.ft. Happinest's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Gst Road: Rs 2,750 per sq.ft (2024)
• Industrial Ariya Thirukatchur: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar: Rs 550 per sq.ft (2024)
• Jeevanatham Nagar: Rs 660 per sq.ft (2024)
• Jeevanatham Nagar Phase- I: Rs 660 per sq.ft (2024)
• Jeevanatham Nagar Phase- II: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Happinest

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Happinest?

The Sub Registrar Office that covers Happinest is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a critical factor in the registration process when buying or selling property in Thirukkachur - 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of Happinest?

The current guideline value of Happinest is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Happinest?

The land classification for Happinest is Residential Special Type - III, indicating its designated use for residential purposes.

What is the registration office for Happinest?

The registration office for Happinest is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Happinest?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7% and a registration fee of Rs 26,400 at 2%.