Guideline Value for Happy Land Colony

Happy Land Colony guideline value

The current guideline value of Happy Land Colony, located in Mevaloorkuppam B village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area 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. The most recent revision in 2024 set the value at Rs 400 per sq.ft, which is unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2017 revision was the first recorded increase in a long time, moving from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are a total of 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is the same as the guideline value for Happy Land Colony.

• Harini Nagar: Rs 300 per sq.ft (2024)
• Ilangaliyamman Koil Street: Rs 400 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 100 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 would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Happy Land Colony?

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

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

The guideline value is a crucial factor when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of the transaction. It is essential to consider the guideline value to avoid any discrepancies during the registration process.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 49% increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024. There were no recorded figures for the years 2002, 2003, 2007, and 2012.

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

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registration in Happy Land Colony?

The Sriperumpudur Sub Registrar Office handles property registration for Happy Land Colony, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Happy Land Colony?

Happy Land Colony is classified as Residential Class II Type - I, which indicates its designation for residential use within the area.