Guideline Value for SEA WOODS

Sea Woods guideline value

The current guideline value of Sea Woods, located in Neelankarai village under the Neelankarai SRO, is Rs 9,500 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - II.

How the guideline value of Sea Woods has changed

The guideline value for Sea Woods has seen significant changes over the years. In the 2017 revision, the value was set at Rs 5,750 per sq.ft. This increased to Rs 8,583 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 9,500 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry 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, and Sea Woods' 2024 guideline value is above this median.

• Sea View Enclave: Rs 6,100 per sq.ft (2024)
• Sea View Avenue: Rs 3,900 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 Woods

For a 1,000 sq.ft plot at the current guideline value of Rs 9,500 per sq.ft, the total guideline value would be Rs 95,00,000. The stamp duty at 7% would be Rs 6,65,000, and the registration fee at 2% would be Rs 1,90,000, making the total cost Rs 8,55,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sea Woods?

The Sub Registrar Office that covers Sea Woods 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 Neelankarai

The guideline value plays a crucial role in property transactions in Neelankarai. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. This value is established by the registration department and is revised periodically to reflect changes in the real estate market.

When registering a property, buyers should be aware that the guideline value is the basis for calculating the stamp duty and registration fees. Therefore, it is essential to check the latest guideline value before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value of Sea Woods?

The current guideline value of Sea Woods is Rs 9,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 5,750 per sq.ft in 2017 to Rs 9,500 per sq.ft in 2024, showing an overall increase of 65% over this period.

What is the land classification of Sea Woods?

Sea Woods is classified as Mixed Type - II according to the land classification standards.

What are the stamp duty rates for properties in Sea Woods?

The stamp duty for properties in Sea Woods is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations for Sea Woods?

The Neelankarai Sub Registrar Office handles property registrations for Sea Woods, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.