Guideline Value for Sea Shell Avenue

Sea Shell Avenue guideline value

The current guideline value of Sea Shell Avenue in Neelankarai 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 - II.

How the guideline value of Sea Shell Avenue has changed

The guideline value for Sea Shell Avenue has seen significant changes over the years. In 2002, the value was Rs 747 per sq.ft, which increased to Rs 812 per sq.ft in 2003. The value continued to rise, reaching Rs 1,500 per sq.ft in 2007, and then saw a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The most recent revisions show the value at Rs 3,500 per sq.ft in 2023, and it has now risen to Rs 3,900 per sq.ft in 2024.

Between the revisions, the changes are noteworthy. From 2002 to 2024, the overall increase is +422%. The jump from 2017 to 2023 was +49%, while the 2012 to 2017 revision saw a decrease of -33%. The value increased by +133% from 2007 to 2012, and from 2003 to 2007, it rose by +85%. The increase from 2002 to 2003 was +9%, and the recent change from 2023 to 2024 is +11%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value in this area is Rs 2,200 per sq.ft, making the 2024 figure for Sea Shell Avenue above the median.

• Sea View Avenue: Rs 3,900 per sq.ft (2024)
• Sea View Enclave: Rs 6,100 per sq.ft (2024)
• Sea Woods: Rs 9,500 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 Shell Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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, totaling 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 our stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is essential during the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sea Shell Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 747 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +422% over the years.

What is the land classification of Sea Shell Avenue?

Sea Shell Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sea Shell Avenue?

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.

Where is the Sub Registrar Office for Sea Shell Avenue located?

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