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Registration of property dips 60% in Old City

Posted on Dec 29, 2016
Hyderabad

Property registrations have decreased across the Old City post demonetisation, according to the revenue department officials. The number of sale deeds has decreased while there is an increase in gift deeds, in all the sub registrar offices and District Registrar offices (DRO).

"The sale deed documents have decreased by almost 50%, I used to process 10 to 15 sale deed documents every day before demonetisation, now, I process only five to six documents per day," said Ravinder V, sub registrar, District Registrar Office(DRO), Red Hills, "However the number of gift deeds have increased," he added.

Random checks at the sub registrar revealed the people who entered into an agreement before the Centre's decision went a step ahead to buy the property; however, the number of people purchasing a new property was very less.

"Post demonetisation, the sale deeds I came across were among family members and friends. I did not come across even one sale deed since Nov 8, which was not among family members," said Jyothi V, sub registrar, Azampura.

Denizens were visiting the office to register their rental agreement, mortgages and will deeds on December 27, however sale deed registrations were barely seen. The stamp paper counter at the offices, which witness queues most of the time barely, saw any customers. "We used to sell almost 5000 to 6000 stamp papers per day, post demonetisation, the counter has decreased to approximately 2000 per day," said a staffer at sub registrar office, Azampura, "I used to issue approximately 30 to 40 encumbrance certificates(EC), per day, now the count has come down to 15 EC's per day," he added.

Property document registration services, who earn their living by drafting the registration documents blame the cash crunch. "Most of my customers pay the Echallan by cash, they are postponing their property registration due to long bank queues", said, Azam Pasha, a document writer outside a sub-registrar office.

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Top residential property investment hotspots in 2017

Posted on Dec 29, 2016
The top five hotspots for residential property investment in the country are Mumbai, Bengaluru, Hyderabad, Ahmedabad and Chennai. These cities are more or less regulars on most hotspots lists, but there is a sound rationale behind their consistent performance year after year. Not only are these cities attracting new businesses and industry, their r ...
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Hyderabad real estate prices to surge

Posted on Dec 02, 2016
The cascading effect of demonetisation would impact the real estate sector in the city with property prices not easing in the coming months.If experts from the field are to be believed, the prices are set to soar with the roll out of Goods and Service Tax (GST) and Real Estate Regulatory Authority (RERA) in 2017.However, the property prices will no ...
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Big contractors not keen on 2-BHK house scheme in Hyderabad

Posted on Nov 22, 2016
HyderabadDespite promising to build more than a lakh two-bedroom houses for poor in the Greater Hyderabad Municipal Corporation (GHMC) limits, so far work began on construction of only 944 such apartments at four locations in the city - Syed Sab Ka Bada (48), Bandlaguda (176) Yerukala Nacharamma Nagar (432) and Singam Cheruvu (176).This was disclos ...
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Property registration in Telengana goes down by 40 per cent

Posted on Nov 22, 2016
HYDERABAD: The Central governments demonetisation move has proved to be a severe  blow for the already ailing real estate sector in the State.Not just the realtors and builders but property buyers as well are in a grip of panic after big notes were scrapped. The adverse effect is already being reflected on the income of Telangana Registration ...
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Hyderabad realty poised for 30% growth this year

Posted on Oct 18, 2016
Hyderabad: The real estate sector in Hyderabad, which went through hard times in the past few years due to global recession and bifurcation blues, seems to be back on a robust growth track now, with the industry insiders expecting a whopping 30 per cent growth in sales during the current financial year.“Finally, the real estate sector is back on a ...
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Cybercity launches project in Hyderabad

Posted on Oct 06, 2016
Hyderabad: Cybercity Builders and Developers Private Limited, a city-based real estate developer, on Friday launched Marine Skies, a Rs 1,000-crore premium high-rise residential project, near Hi-Tec City MMTS in Hyderabad. The project will comprise two residential towers of G+31 configurations spanning 8.5 acres with 80 per cent of it being open sp ...
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The best places to buy a home in Hyderabad

Posted on Aug 12, 2016
Hyderabad has witnessed a surge in demand for commercial and residential properties. According to CBRE Indias report titled ‘The comeback of Hyderabad, ‘Hyderabad is regaining prominence, as one of the leading destinations for real estate in south India. Political stability, the state governments proactive policies, growing occupier demand, impr ...
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Living in luxury

Posted on Aug 09, 2016
HyderabadLuxury properties in the city see a growth in demand and supply.World class infrastructure, great employment and entrepreneur opportunities and an economic growth more than the average national economic growth, has all made Hyderabad a place where one wants to live. With an abundance of affluent buyers in the city, the realtors in the city ...
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Nanakramguda: For luxury homes away from city

Posted on Aug 04, 2016
HyderabadNanakramguda is away from the hustle-bustle of the city and offers some luxury residential options also.Nanakramguda is a fast developing suburb in the Serlingampally mandal.The area came in limelight during the first phase of financial district which made way for development of many residential projects. Its smooth connectivity to Hitec c ...
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City registers six per cent increase in rental values

Posted on Jul 28, 2016
HYDERABAD: As Hyderabad realty sector is seeing a recovery, rental values are rising in the city. While the tenants might see this as a stress on their family budget, realtors and investors are seeing this as a welcome trend.According to recently released April-June, 2016 Insight report by popular property portal 99acres.com, rental values in Hyder ...
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Hyderabad realty market has huge potential: MD of Puravankara Projects

Posted on Jul 20, 2016
HYDERABAD: Puravankara Projects, one of the leading realtors and builders in India, launched Provident Kenworth in Hyderabad. The integrated lifestyle project located in Rajendranagar, saw encouraging bookings within three months of its launch. Citing the positive mood in Hyderabad as the reason for such speedy bookings, Ashish Puravankara, MD of P ...
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Tech continues to lead growth in Hyderabad

Posted on Jul 20, 2016
Hyderabad Commercial real estate sector benefits most, says report. Buoyed by the recent MNC investments, Hyderabad is likely to see more traction in the commercial real estate area. Hyderabad is expected to see addition of nearly 16 million square feet of new office supply over the next three years, mostly in the suburban and peripheral locations ...
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Hyderabad Office Space Leasing Up 55% In January-June: Realty Consultant

Posted on Jul 13, 2016
New Delhi: Hyderabad saw a maximum increase of 55 per cent in net office space absorption in the January-June period among eight top cities on improving business climate in the city, according to realty consultant Cushman & Wakefield.Net office space leasing in Hyderabad rose to about 2.9 million square feet in the first half of calendar year 2 ...
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Dream India, FIMA Properties to develop a luxury housing project in Hyderabad

Posted on Jul 06, 2016
HyderabadThe Dream India Group and FIMA Properties have unveiled a luxury residential property in the upmarket Banjara Hills here, which will see investment of about Rs. 270 crore.The property, located close to the IT hub of Hyderabad, is spread over a 2-acre site and will have fourteen towers with one apartment in each floor. The apartments, with ...
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AP govt to revise market value of land

Posted on Jul 06, 2016
HyderabadIn a move to cash in on the prevailing real estate boom in Andhra Pradesh, the department of stamps and registrations has proposed to increase the market value of land in the state. The move is expected to fetch an additional revenue of Rs 1,000 crore annually to the cash-starved exchequer.The AP government, in fact, had increased the mark ...
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Hyderabad sees robust rise in office space absorption in H1: Cushman & Wakefield

Posted on Jul 06, 2016
HYDERABAD: While most of the top metros reported either a decline or flattish growth in the net absorption of office space in the first half (H1) of 2016, Hyderabad seems to have bucked the trend by reporting a steep rise in the absorption of office space in the same period, revealed a report by real estate consultancy Cushman & Wakefield on Mo ...
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Recent developments boosting property values in Narsingi

Posted on Jun 07, 2016
HyderabadRecent developments around the area have boosted property values and are attracting professionals.Narsingi is around 10 km from the Jawaharlal Nehru Outer Ring Road flyover. About a decade ago, Narsingi was regarded a small village, away from the city with hardly any amenities. It was famous for live stock and vegetable markets. However, i ...
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Building rents on the rise

Posted on May 27, 2016
HyderabadThe task of finding suitable buildings either in Vijayawada or Guntur has been entrusted to the department heads. The district collectors, however, will decide on the rent to be paid by individual department or directorate. The officials have been given the power to enter into lease agreement with the owners of buildings for up to three ye ...
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Positive Sentiment is Back after a Long Gap

Posted on May 03, 2016
HYDERABAD: Positive sentiment is back in the real estate sector now after a long gap, according to Knight Frank India and Federation of Indian Chambers of Commerce and Industrys (FICCI) Real Estate Sentiment Index (RESI) report for the first quarter of the year 2016 released on Friday. Real Estate Sentiment Index tracks the perceptions of stakehol ...
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