Guideline Value for SEA VIEW ENCLAVE

Sea View Enclave guideline value

The current guideline value of Sea View Enclave is Rs 6,100 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Special Type - II.

How the guideline value of Sea View Enclave has changed

The guideline value for Sea View Enclave has undergone several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which then decreased to Rs 3,685 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,500 per sq.ft in 2023, and then rose again to Rs 6,100 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The changes from 2017 to 2023 reflect a substantial increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sea View Enclave's 2024 figure above that median.

• Sea View Avenue: Rs 3,900 per sq.ft (2024)
• Sea Woods: Rs 9,500 per sq.ft (2024)
• Sea Shell Avenue: Rs 3,900 per sq.ft (2024)
• Selvakumar Avenue: Rs 1,700 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sea View Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total cost for these fees to Rs 5,49,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sea View Enclave?

The Sub Registrar Office that covers Sea View Enclave 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 information.

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

When buying or selling property in Neelankarai, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is used to calculate the taxes owed during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market and is crucial for ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sea View Enclave?

The current guideline value of Sea View Enclave is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then to Rs 5,500 in 2023, and finally to Rs 6,100 in 2024.

What is the land classification of Sea View Enclave?

Sea View Enclave is classified as Residential Special Type - II, which is an important designation for property buyers and sellers in the area.

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 View Enclave?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 61,00,000, the stamp duty would be Rs 4,27,000 at 7%.