Hey Sahil,
As mentioned by Sunjot, the configurations are now stored under the node /conf/<my-app>/settings/cloudconfigs/<cloud_service>.
Go to Sites, select your application root, and click properties. Note that a cloud configuration value is found under the advanced tab. Clicking on the cloud configuration field brings up a conf browser. Select the configuration folder that was created earlier on (my-app).
Cloud Service tab is still used for legacy cloud services (i.e. cloud services that have not moved to /conf and whose configs continue to reside in /etc/cloudconfigs).
Regards,
Vishu