Guideline Value for HAPPY TOWN

Happy Town guideline value

The current guideline value of Happy Town, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 275 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Happy Town has changed

The guideline value for Happy Town has undergone several revisions over the years. Starting from Rs 24 per sq.ft in 2002, it increased to Rs 27 per sq.ft in 2003, marking a 13% rise. By 2007, the value reached Rs 202 per sq.ft, reflecting a significant increase of 648%. In 2012, the value was recorded at Rs 250 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw a jump to Rs 167 per sq.ft, followed by an increase to Rs 250 per sq.ft in 2023, and finally to Rs 275 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1046%. Notably, there are no figures available for the revisions in years other than those specified for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. Happy Town's 2024 figure is below this median.

• Gowtham Nagar: Rs 770 per sq.ft (2024)
• Golden Nagar: Rs 330 per sq.ft (2024)
• Gms Nagar: Rs 330 per sq.ft (2024)
• Jai Maruthi Avenue/Nagar/All Phases: Rs 330 per sq.ft (2024)
• Gayathri Nagar: Rs 330 per sq.ft (2024)
• GAYATHRI AVENUE/Extension: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Happy Town

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Happy Town?

The Sub Registrar Office that covers Happy Town is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Happy Town?

The current guideline value of Happy Town is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 24 per sq.ft in 2002 to Rs 275 per sq.ft in 2024, showing a significant overall increase of 1046% over the years.

What is the median guideline value in Nanthiambakkam?

The median guideline value in Nanthiambakkam is Rs 330 per sq.ft for the year 2024, with Happy Town's value being below this median.

What are the stamp duty and registration fees for property in Happy Town?

For a property valued at Rs 2,75,000, the stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750.

Where is the Sub Registrar Office for Happy Town located?

The Sub Registrar Office for Happy Town is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.