Thursday 29 March 2012

Rush for Chennai property registration before guideline value hike

Chennai

More than 150 people lined up outside the district registrar’s office at Saidapet in Chennai on a sultry Wednesday morning, brushing away rivulets of sweat as they awaited their turn to submit documents. After the government’s announcement on Monday that new guideline values would come into effect from April1, there has been a rush to get registrations done in the few days remaining this month.

Nandini P and her husband, who were at the office to register the sale deed for a house in Ramapuram, looked hassled as they made their way through the crowd while keeping an eye on their child.

“We rushed to get our registration done before April 1, when the new guideline values will be implemented,” she said. “It costs us Rs 40,000 now and this is likely to go up after April 1. Organizing funds at such short notice has been difficult.”

Chennai Port Trust employee K R Ramachandran and his brother, who bought a house in Tiruverkadu, had to borrowsome money to register the property in a hurry.

“We originally planned to register the house a month later,” he said. “But we did not want to pay more next month so we took a loan and pawned jewellery to get the money we needed.”

Officials at the registrar’s office said property owners on Wednesday submitted twice as many applications as they normally do. “Usually, we get about 70 applications each at the Joint 1 and Joint 2 sections here every day,” said an official. “We received 150 each today.”

Other registrar offices also reported an increase. “We normally receive 10-15 applications each day,” said an official in Adyar. “Today we got 25 applications.”

Source: The Times of India, Chennai

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