Guideline Value for SEA SHELL AVENUE

Sea Shell Avenue guideline value

The current guideline value of Sea Shell Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and is classified as Residential Special Type - V.

How the guideline value of Sea Shell Avenue has changed

In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase further to Rs 4,400 per sq.ft, which represents a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Sea Shell Avenue's 2024 value above that median.

• Sea Shell Avenue Extension: Rs 4,400 per sq.ft (2024)
• Sea Cliff Conclave: Rs 5,500 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)
• SEA SHORE TOWN 12th AVENUE: Rs 4,400 per sq.ft (2024)
• SEA SHORE TOWN 13th AVENUE: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sea Shell Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sea Shell Avenue?

The Sub Registrar Office that covers Sea Shell Avenue 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 more details.

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

The guideline value is an essential factor during property registration in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps in assessing the transaction's legality and provides a benchmark for both buyers and sellers. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sea Shell Avenue?

The current guideline value of Sea Shell Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification for Sea Shell Avenue?

Sea Shell Avenue is classified as Residential Special Type - V, indicating its designation for residential purposes.

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.

How is stamp duty calculated for properties in Sea Shell Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.