Guideline Value for SEA VIEW

Sea View guideline value

The current guideline value of Sea View, located in Enjambakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sea View has changed

Over the years, the guideline value of Sea View has seen significant revisions. The earliest recorded revision was in 2017, where the value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 66%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sea View's 2024 figure above this median.

• School Road (Padasalai Street): Rs 1,700 per sq.ft (2024)
• Selva Nagar: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn I: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn II: Rs 2,200 per sq.ft (2024)
• Selva Nagar Extn III: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sea View

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Sea View?

Sea View falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sea View?

The current guideline value of Sea View is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024, marking a total increase of 66% over this period.

What is the median guideline value in Enjambakkam?

The median guideline value for streets in Enjambakkam is Rs 2,200 per sq.ft, with Sea View's 2024 value being above this median.

What are the stamp duty and registration fees for a property in Sea View?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Sea View?

The Neelankarai Sub Registrar Office handles property registrations for Sea View, located at 2/71, Gajura Garden, East Coast Road, Neelangarai, Chennai.