Showing posts with label Australia. Show all posts
Showing posts with label Australia. Show all posts

Saturday, 9 June 2012

Tamil Nadu launches fool proof system for land registration

Chennai

In Tamil Nadu where close to 40% of the land titles are disputed, one can be certain about the legality of any purchase only until somebody challenges it. The situation is no different in many other states and it is estimated that it may take several hundred years to create clear titles for all land parcels in the country.

While Maharashtra, Karnataka, Andhra Pradesh and Gujarat have made considerable progress in computerization of land records and their integration with respective registration departments, Tamil Nadu is among the states that have made very little progress. This, despite the Centre earmarking huge funds under the National Land Records Modernisation Programme (NLRMP) for states to utilise.

In what could be termed a delayed act towards providing guaranteed title to land owners in Tamil Nadu, the state government has launched a pilot land records management programme in Kancheepuram and Tirunelveli districts to computerize urban land records. Two high-level committees, constituted through a government order recently, will monitor the programme, which will be followed up by computerization of land records in all urban centres in the state.

Computerisation of rural land records is already completed in Tamil Nadu.

The NLRMP aims at reforming land records management and land administration into a transparent system, which will ultimately lead to replacing the present document registration system that is followed in subregistrar offices, with a foolproof title registration system, said an official. “While the former is a presumptive title registration system, the latter guarantees a clear and conclusive land title,” said A Arumuga Nainar, former additional inspector general in the registration department.

Many countries including Germany, Australia, New Zealand, Malaysia and Singapore follow the land title registration system.

Apart from providing a single window to handle land records and registration of immovable properties, the title registration system will ensure automated and automatic mutation of title in land records and also provide title insurance to insulate the title holder from liabilities arising out of defects in the title.

With the use of satellite images and aerial photographs, physical land surveys will be done away with. In short, at the click of a button, any government agency will be able to check physical condition and title details of any property and it would put an end to land grabbing and registration of fraudulent documents. Also, with the availability of all land data online, seamless integration would be possible for micro and macro-planning, said an official.

Source: The Times of India, Chennai

Thursday, 1 March 2012

Pallikaranai realty sees rise in NRI buyer interest

Chennai

Pallikaranai locality in Chennai has seen an increase in NRI buyer interest in the recent past. T. Madavan, a local realtor with Remax Gold pointed out that many residents of this locality, living abroad, are investing in the locality. He attributed this to both, sentimental and investment reasons.

Majority of the residents from this locality have shifted base to countries like Australia, Canada and Dubai. One of the projects that has especially seen increased interest from the NRIs is KG Green Meadows by KG Builders, Madavan added. KG Green Meadows offers luxury apartments for about Rs 5,100 per sq ft.

Another reason that can be attributed to the increased NRI interest here is the presence of neighbourhood areas like New Colony, IIT Colony, VGP Shanti Nagar, Maxworth Nagar, Viduthalai Nagar and Kamakoti Nagar.

As per MagicBricks data, the capital value of builder-floor apartments in this locality is from Rs 3,600 to 3,800 per sq ft depending on the area, location, age of the property, developer, typology and other attributes of the property. The locality has seen an increase of about 4% in capital values of multi-storey apartments in the Oct to Dec quarter compared to the Jul to Sept quarter last year.

Major part of this locality is a part of a reserve forest area and therefore, the locality is surrounded by a calm, peaceful and green environment. Some prominent builders here include Doshi Housing, Maxworth Homes Ltd, Puravankara Projects Ltd, Real Value Builders & Developers, Akshay Builders, among others.

Source: MagicBricks Bureau