Chennai: Government revenue from 9,854 crore from property registration in the last nine months is the highest in the last five years of 2017.
Income 2021 April to December is 43% more than 2020 (6,881 crore) and 19% more than pre-covid year 2019 (8,267 crore).
The registration department sources said revenue would likely touch 15,000 crores at the end of March, 2022.
December 2021 also saw the highest income from land registration in the last four years at 1,405 crores.
Chennai and the suburbs witnessed a new surge in launch.
More than 40% of revenue from property registration in 2021 came from the Chennai zone consisting of neighboring cities and districts.
Knight Frank India said 7,900 housing units were sold between April and December at the Chennai real estate market.
In 2021 as a whole, 12,783 housing units were launched.
The Flat Promoter Association (South Chennai) Vice President R Balaji said the current housing unit supply was more than a request from home buyers because several projects were completed after the limitation of the pandemic was appointed after the second wave.
“At present, customers have several choices if they want to buy apartments on the western and western outskirts,” he added.
Suresh Krishn, President of Credai (Tamil Nadu Chapter), said that there would be a ‘short term’ impact on a sales housing due to limiting locking in the third wave view.
The impact will depend on the number of days of restrictions there.
The request will rise again after the sidewalk does not move, he said.
Srinivas Anikipatti, Senior Director, Tamil Nadu and Kerala, in Knight Frank India, said the number of orders would be less during locking days when there was no access to the registration office.