Property registrations in the commercial capital of Kerala went up by 13 per cent in the first half of 2012 compared to the corresponding period last year despite the rupee’s downward trend impacting the country’s economy.
Official records available with The Hindu show that 67,326 documents were registered across 25 offices of the sub-registrars in the district by the end of June. The total number of registrations between January and June 2011 were 59,547.
Kothamangalam, the bustling gateway to the High Ranges, retained its position as the most sought-after destination for investments going by the number of registrations in the district. The Kothamangalam sub-registrar’s office saw 4,574 deals between January and June this year compared to 4,305 registrations in the corresponding period last year. Even though the number of transactions went down from 900 in March to 698 in June in the region, Kothamangalam topped the list in the first-half of 2012.
Puthencruz, which was second in the preferred investment destinations in Ernakulam, slipped to number three position this year. Muvattupuzha replaced Puthencruz in the list, with 4,245 registrations in the first-half of 2012. The corresponding figure for the previous year was 3,278.
The Puthencruz sub-registrar's office saw 4, 071 registrations between January and June. Demand for property in Perumbavoor has recorded a steady growth in the last two years. In 2010-11, 5,666 documents were registered in the Perumbavoor office. From 3,595 registrations in the first-half of 2011, transactions went up to 4,062 this year.
Ernakulam slipped from fifth in the number of transactions in 2011-12 to seventh in the first-half of 2012. Only 3,489 deals were struck this year compared to 3, 648 transactions in the corresponding period last year.
The number of property registrations in other areas in Ernakulam district between April, 2011 and January 2012 were: North Paravur, 3, 576; Kochi, 3, 516; Alangad, 3, 351; Chengamanad, 3, 334; and Angamaly, 3, 313.
Income from stamp duty and registration fee too have shown the increase in tandem with the number of registrations. Stamp duty and registration fee realised during January and June 2012 stood at Rs. 309.9 crore. The Ernakulam sub-registrar office received Rs. 41.49 crore as stamp duty and registration fee while the collection at Thrikkakara sub-registrar office was Rs. 32.12 crore.
The Edappally sub-registrar office received Rs. 31.18 crore as stamp duty and registration fee followed by Maradu (Rs. 21.06 crore); Tripunitura (Rs. 16.76 crore); Aluva (Rs. 15.65 crore); and Puthencruz (Rs. 15.55 crore).
