Guideline Value for Happinest

Happinest guideline value

The current guideline value of Happinest in Kalavakkam village, under the Thiruporur SRO, is Rs 2,873 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Happinest has changed

The guideline value of Happinest has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,750 per sq.ft. This increased to Rs 2,612 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,873 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

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 Happinest's value above this median.

• Happinest Phase II: Rs 1,925 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,873 per sq.ft, the total guideline value amounts to Rs 28,73,000. The stamp duty, charged at 7%, would be Rs 2,01,110, and the registration fee, charged at 2%, would be Rs 57,460. Together, the total cost for stamp duty and registration would be Rs 2,58,570. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Happinest?

The Sub Registrar Office that covers Happinest is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, in the 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 plays a crucial role in the registration process of property transactions in Kalavakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the property is valued correctly according to the guideline can help avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Happinest?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,750 per sq.ft to Rs 2,873 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Kalavakkam with their guideline values?

There are several other streets in Kalavakkam, with varying guideline values. For example, Happinest Phase II has a guideline value of Rs 1,925 per sq.ft, while Happinest Phase III, IV, and V have a value of Rs 2,873 per sq.ft.

What fees are associated with buying property in Happinest?

When purchasing property in Happinest, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Happinest?

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