Guideline Value for Happinest Phase II

Happinest Phase II guideline value

The current guideline value of Happinest Phase II is Rs 1,925 per sq.ft, effective from 1 July 2024. This property is located in Kalavakkam village under the Thiruporur SRO, classified as Mixed Type - III.

How the guideline value of Happinest Phase II has changed

In the 2017 revision, the guideline value for Happinest Phase II was Rs 1,750 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,750 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 1,925 per sq.ft.

The revisions for the years 2002, 2003, 2007, and 2012 do not have any figures recorded for this street. Therefore, the overall change from 2017 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Kalavakkam

Kalavakkam has a total of 27 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 1,816 to Rs 4,250 per sq.ft, with a median value of Rs 2,463 per sq.ft. Happinest Phase II's 2024 guideline value is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Happinest Phase II?

The Sub Registrar Office that covers Happinest Phase II 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 critical factor when registering property transactions in Kalavakkam. It determines the stamp duty and registration fees that must be paid during the registration process.

When buying or selling property, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Happinest Phase II?

The current guideline value of Happinest Phase II is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,750 per sq.ft in 2017 to Rs 1,925 per sq.ft in 2024, reflecting a 10% increase. There was no change in the 2023 revision, which also recorded Rs 1,750 per sq.ft.

What is the land classification of Happinest Phase II?

Happinest Phase II is classified as Mixed Type - III, which is relevant for understanding the permissible uses of the land.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,73,250.

Where is the Sub Registrar Office for Happinest Phase II located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone, which handles registrations for Happinest Phase II.