How to register a property in Chennai?
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Are you a new property buyer? First of all, we wish you good luck. Uh, there must be too many legalities you’re currently going through.
In our previous article, we had briefed you about stamp duty and registration charges and why you are liable for either of them. Now that you’ve got a fair understanding, here is more on the same topic,
So, you are done with buying your dream home in Chennai - congratulations on your endeavor! But wait, there is still something that you got to do! Though you physically possess the property.
The Department of registration of the state government of Tamil Nadu has announced that the registration of properties will be carried out as per the serial order from 17th September.
In order to bring more transparency and efficiency in the registration process of property document the concerned state owned department has launched a new software, Star 2.0 for the mentioned purpose.
As a move to reach out to home buyers from all corners, CREDAI (the Confederation of Real Estate Developers Associations of India, will conduct exhibitions at various locations.
Presently, the system of according the priority for property registration is given according to the time of the people visiting the registration offices.
The concession in the interest rates as given by the State Government of Tamil Nadu for those who got allotments from the Housing Development Board has been extended for a further 6 months.
Yesterday, Monday, 20th August, was the 1st working day after the start of the Tamil calendar month of Avani. On this single day, the Department of Property Registration has reported that 14847 properly documents were registered.
A member-secretary of the CMDA (Chennai Metropolitan Development Authority) council had submitted a letter proposing certain changes in the rules and regulations of the present system.
Sources from the Commercial Taxes and Registration department informs about a government order of increasing the stamp duty and registration fee on agreements related to deposit of title deeds by Rs 5,000 and Rs 1,000.
The Chennai Corporation has decided to offer a 25% concession in all properties including constructions with temporary roofs in the areas recently merged with the Chennai Metro City domain under its jurisdiction.
The Chennai Metropolitan Development Authority (CMDA) has relaxed the rules and regulations to permit construction of multi-storeyed apartments in the approved areas.
According to a report submitted by property consultant CBRE Chennai has sixteen percent share in the total composition of Special Economic Zone (SEZ) office space across the whole nation. SEZ office space occupies majority.
Get EC in a jiffy online
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There is going to be no need for seek the sub-registrar office for obtaining encumbrance certificate, as this will soon be available in just a few clicks online. Instead of the manual seal and sub-registrar signature.
Chennai housing sales in upward trend
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More than 1000 real estate developers attended the CREDAI 18th annual meeting convention held in Berlin. A report was published in the event mentioning the gradual positive progress of the housing sales in Chennai.
CMDA and DTCP plot regularization scheme
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Chennai Metropolitan Development Authority (CMDA) extended the plot regularization scheme by six months after the month of May, 2018 for receiving applications from the plot owners.
There was a recent revision in Property Taxes announced by the state government of Tamil Nadu. Strong protests and objections were raised on this upward revision on behalf of the political parties and others.
