All about apartment owner association
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The rights of every individual in an apartment and the owner are completely protected by the Apartment Owner Association.
Between January and June 2017, there is 2 percent dip in office space leasing, and has come down to 18.9 million sq. ft. across 7 major cities. However, the demand is likely to continue steady in the second half of the year.
Substantial growth in Chennai realty
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In the past few years, the residential market in Chennai has been facing a down time. This year, it has started getting gradually recovered. It started with a healthy bounce back in the sales and unit launches.
The state government of Tamil Nadu has released the rules and regulations for the regularization of the constructions completed before July 2007 which violated the rules and regulations.
In the revised regulations of the Tamil Nadu Building Laws and Regulations, it is warned that in case it is established that there was a violation of the regulations in the construction, the builder will be given 3 years.
The Municipal Administration and Rural Development Minister S.P. Velumani has announced that the application of building plan (map) for approval of construction must be made only online.
The state government of Tamil Nadu has been intensely exploring the setting up of online booking/sales of riverside sand in order to streamline the trading system.
Registrations can now be made with cash
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A new circular is issued from the Registration Department. It contains details of procedures to be practiced at the time of property registration. From all those who register property, sub-registrar offices will accept cash.
The validity of planning permission of projects that have got expired on 30th March is extended by 2 more years by the Chennai Metropolitan Development Authority.
By end of this month, please notify the draft rules structured as per the Real Estate Act pleas Union Urban Development Minister M. Venkaiah Naidu to the Tamil Nadu government. If undone, it may hit the registration of properties, he alerts.
