Property Registrations: Old CARD system spurs spike in realty business across Telangana

Property prices to see uptick over 2-3 yrs
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Property prices to see uptick over 2-3 yrs

Highlights

Property buyers, sellers flood Registrar offices

Hyderabad: With the State government resuming property registration in the old Computer-aided Administration of Registration Department (card) system from Monday, the realty business picked up in Telangana. While the sub registrar offices were flooded with buyers and sellers of the properties, the realtors started filing fresh applications for new housing and layout ventures in majority of the urban local bodies.

It may be mentioned here that the State government had halted non-agricultural property registrations from September 8 and introduced new registration process which came into effect from December 14. After the courts strongly objected the government for seeking Aadhaar, family members and cast details as mandated in the new system, the State introduced card system again for the property registrations.

The municipal authorities said that the agencies engaged in the property construction and plot ventures approached the officials for approvals to take up new projects. Karimnagar, Warangal, Nizamabad, Khammam and Adilabad municipal corporations received good number of applications from the realtors. The grade one municipalities were also abuzz with the realty activity on the first day of the property registrations resumed at all the 141 sub registrar offices in the State.

Barring the lands pending for regularisation under the LRS scheme, officials said that the property sellers waiting since four months made a beeline before the registrar offices for registrations. Reports said that more than 2,000 registrations were done by evening. Officials said that no technical glitches were reported in the functioning of the card system. Chief Secretary Somesh Kumar instructed the Stamps and Registration Department to depute additional workforce if required, to speed up the registrations process mainly in Greater Hyderabad limits where the property sales are comparatively high in the State.

PICKING UP THE THREADS…

Karimnagar, Warangal, Nizamabad, Khammam and Adilabad municipal corporations receive good number of applications from realtors

♦ More than 2,000 registrations done on the day registrations resumed with card system

♦ Chief Secretary Somesh Kumar instructs Stamps and Registration Department to depute additional workforce if required and speed up registrations process mainly in Greater Hyderabad limits

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