** Chennai lead with 18.9 % growth in property deals.
** Southern sub-urban areas such as Medavakkam, Pallikaranai,
Neelankarai, Guduvancherry, Tambaram & Tiruporur witnessed strong growth.
After
a slump during last fiscal (2012-13) when real estate purchases fell 23.54 %, property registration in the Tamil
Nadu state appears to be clawing back with a 11 % growth in registrations in
April to May 2013.
The
government of Tamil Nadu raised guideline values sharply - the base price at
which a property is registered- effective April 1, 2012. This coupled with high
lending rates impacted new house buys. With no signs of a rollback on guideline
rates & mortgage rates showing signs of easing, property registrations
appear to pick up.
New
property registrations were homogenous & spread across the Tamilnadu state,
data from the state's registration department showed.
Registrations
in April to May (2013) stood at 4.47 lakh as against 4.03 lakh a year ago, a
rise of 10.87 %.
Among
the regions which witnessed strong growth includes, Kancheepuram, Chengalapet,
Kumbakonam, Nagapattinam, Pattukottai, Myladuthurai, Namakkal, Dharmapuri and
Krishnagiri.
Chennai
lead with 18.9 % growth in property deals. Southern sub-urban areas such as
Medavakkam, Pallikaranai, Neelankarai, Guduvancherry, Tambaram & Tiruporur
witnessed strong growth.
The
other hot areas were Siruthavur, Panaiyur and Kelambakkam off Vandalur and East
Coast Road, data showed.
Thanjavur
and Salem recorded 17.24 % and 14 % growth respectively in property deals.
The
registration of documents hovered about 27 lakh to 35 lakh till 2008, and fell
to 26 lakh last year.
Sales
in drought hit delta districts were brisk. The agricultural lands in delta
districts were lapped up as hot cakes.
Thanjavur
region, comprising of Nagapattinam, Pattukkottai, Myladuthurai, Kumbakonam has
recorded good growth.
At
least 50 % of the sale is registered against agricultural lands & the rest
in urban areas. The proximity to NH 7 and NH 45, the busiest national highways,
are attracting buyers to the industrial corridor of Salem, particularly Hosur.
In
the Western parts of the state, property and land buying was strong in Namakkal
& Thiruchengode towns, famous for 'super schools. (Best Education)'
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