Chennai zone accounts for 41% of TN's land registration revenue in April
Real Estate

Chennai zone accounts for 41% of TN's land registration revenue in April

Property registrations in the Chennai zone, which includes the city, Chengalpet, Kancheepuram, and Tiruvallur districts, have rebounded after a steep drop last year, accounting for 41 per cent of the state's total registration revenue in April.

In April, land registrations in Tamil Nadu generated Rs 1,070 crore in revenue, with the city and its environs accounting for Rs 445 crore. Due to the negative impact on the real estate sector following the outbreak of the COVID-19 pandemic, which continues to rage, the contribution of the four districts decreased significantly to 21 per cent last fiscal year. Registrations have brought in over Rs 1,000 crore every month since February this year, according to department data. The Chennai zone topped the state in April with Rs 445 crore, followed by the Coimbatore zone with Rs 175 crore. The total number of documents registered in April was 2.3 lakh, up 30,000 from the monthly average of 2 lakh. The Chennai zone's contribution to the number of documents registered was also similar to pre-COVID levels, at around 45 per cent of the state's total.

After the Tamil Nadu state assembly elections on April 6, property registrations increased in the second week of April.

Image Source


Also read: Why housing went through the roof during Covid: Care Ratings

Also read: Pune, MMR, B’luru top cities for property investment: Report

Property registrations in the Chennai zone, which includes the city, Chengalpet, Kancheepuram, and Tiruvallur districts, have rebounded after a steep drop last year, accounting for 41 per cent of the state's total registration revenue in April. In April, land registrations in Tamil Nadu generated Rs 1,070 crore in revenue, with the city and its environs accounting for Rs 445 crore. Due to the negative impact on the real estate sector following the outbreak of the COVID-19 pandemic, which continues to rage, the contribution of the four districts decreased significantly to 21 per cent last fiscal year. Registrations have brought in over Rs 1,000 crore every month since February this year, according to department data. The Chennai zone topped the state in April with Rs 445 crore, followed by the Coimbatore zone with Rs 175 crore. The total number of documents registered in April was 2.3 lakh, up 30,000 from the monthly average of 2 lakh. The Chennai zone's contribution to the number of documents registered was also similar to pre-COVID levels, at around 45 per cent of the state's total. After the Tamil Nadu state assembly elections on April 6, property registrations increased in the second week of April. Image Source Also read: Why housing went through the roof during Covid: Care Ratings Also read: Pune, MMR, B’luru top cities for property investment: Report

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement