Downtrend in Property registration as new rules comes

NEW DELHI: Existing wounds are not enough to real estate market so state government have added more wounds in the form of new rules as State Government has made it essential to produce a building sanction plan and structural safety certificate as a prerequisite to any form of registry. According to the sub registrar officials almost in every parts of districts ratio of property registration have declined very harshly. He added that in the recent past the average was 100 registrations per day whereas the current report is just 7 to 8 daily.
On 30th March Central Government’s revenue department has issue notice which banned registration of transactions of all structures not supported by sanctioned building plans or where sanctioned plans show major structural deviations. Order also states that vendor and vendee both have to submit a certificate of structural safety issued by the competent authority.
The order issued after the review meeting held in January, the Lieutenant Governor of Delhi, Tejendra Khanna said that there is urgent need of a special task force to crack down on land sharks and unauthorized construction.