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Registration of land
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2008/10/20 3:17
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Most developers comment that the actual end users in a project come about six months from completion of a project. But townships survive on that small percentage of local users. It is important to get the people from the mother city who has invested in townships to consider the option of staying there. When the townships were originally sold during the boom time of 2005-06, any property got sold. But in a slowing market driven by middle-income end users, the best way to success is to partner with the government to beef up infrastructure in the new townships. A large number of potential end users have purchased building in Cochin hoping that the area route would render it accessible to the business districts. The projects too explain to users that the property, apartments, Flat Tripunithura is a mere hour away by metro when the proposed metro link comes. There are however, many slips between the cup and the lip. Therefore the wait and watch policy adopted by end users. Globally the creation of a new township should result in huge revenue to the local authority by way of registration and property taxes. Infrastructure connectivity by way of transport and utility networks are poor or not available in most areas of Cochin due to property registration problems.

However with very high registration, transfer and mutation fee, and weak enforcement in most parts of the country, most properties remain unrestricted. In places, where the sanctioned single floors constructed after receiving approvals from the authorities are not allowed to be registered because of an office memo declaring it as illegal, registration obviously is the last on priority lists. This significantly accounts for the municipal administrations dragging their feet when it comes to providing the infrastructure connectivity by way of transport and utility networks. Now with the growth of industries in the area there are a large number of people looking for housing in the vicinity. But while the demand is for premium quality lifestyles, the developer can only supplement the house with security within the gated community and swank clubs. The rest of the connectivity has to perforce come from city managements.

Posted on: 2008/10/20 3:19
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