Guideline Value for Happy Land Colony

Happy Land Colony guideline value

The current guideline value of Happy Land Colony, located in Mevaloorkuppam village, is Rs 400 per sq.ft, effective from the 2024 revision. This area falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Happy Land Colony has changed

The guideline value for Happy Land Colony has seen several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in the 2012 revision, marking a 100% increase. However, it dropped to Rs 268 per sq.ft in the 2017 revision, before returning to Rs 400 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a 100% increase in the guideline value for Happy Land Colony.

Guideline values in Mevaloorkuppam

Mevaloorkuppam village has a total of 69 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 200 to Rs 2,400 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which matches the current value for Happy Land Colony.

• Harini Nagar: Rs 300 per sq.ft (2024)
• Green City: Rs 400 per sq.ft (2024)
• Golden Growvilla: Rs 400 per sq.ft (2024)
• Golden Castle: Rs 400 per sq.ft (2024)
• Gangaiyamman Koil Street: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Happy Land Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Happy Land Colony?

The Happy Land Colony is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Mevaloorkuppam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is documented at a fair value as per the government regulations.

When buying or selling property, the guideline value serves as a reference point for both parties. It helps in establishing a transparent and standardized pricing mechanism, which is essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Happy Land Colony?

The current guideline value of Happy Land Colony is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 200 per sq.ft in 2007, rising to Rs 400 in 2012, dropping to Rs 268 in 2017, and returning to Rs 400 in 2023 and 2024.

What is the land classification for Happy Land Colony?

Happy Land Colony is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.