Guideline Value for SEA CLIFF CONCLAVE

Sea Cliff Conclave guideline value

The current guideline value of Sea Cliff Conclave is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in the Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Sea Cliff Conclave has changed

The guideline value for Sea Cliff Conclave has undergone several revisions over the years. The earliest recorded revision was in 2017, when the guideline value was Rs 3,350 per sq.ft. This figure increased to Rs 5,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sea Cliff Conclave's 2024 figure above this median.

• Sea Shell Avenue: Rs 4,400 per sq.ft (2024)
• Sea Shell Avenue Extension: Rs 4,400 per sq.ft (2024)
• SEA SHORE TOWN 10th AVENUE: Rs 4,400 per sq.ft (2024)
• SEA SHORE TOWN 11th AVENUE: Rs 4,400 per sq.ft (2024)
• School Street Cross Street: Rs 3,300 per sq.ft (2024)
• SEA SHORE TOWN 12th AVENUE: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sea Cliff Conclave

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is essential to 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 Sea Cliff Conclave?

The Sub Registrar Office that covers Sea Cliff Conclave is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions in Sholinganallur - 1, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved.

During the registration process, the guideline value acts as a benchmark for assessing the property's worth. Buyers should be informed that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sea Cliff Conclave?

The current guideline value of Sea Cliff Conclave is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the guideline values for other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft, with the median being Rs 2,200 per sq.ft.

What fees are associated with buying property in Sea Cliff Conclave?

When buying property in Sea Cliff Conclave, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.