Online Property Registration Facility Soon to be Launched for Delhiites

When the world is going online, why not the real estate industry! According to a news reported by the Economic Times, Delhi may soon become the first city to offer an online facility for property registration, making rent agreements and exercising the power of attorney in property related matters. A trial run of the software has been carried out by the Revenue Department and the government is of view that the site will be operational after two to three months. Online Property Registration Facility Soon to be Launched for Delhiites

This is the first step taken by the government in bringing the real estate industry regulations on an online platform. No other state in India has such facility; Delhi is the first one. It is generally a hassle for the buyers to get their property registered. After they purchase a home, they have to visit the sub-registrar office for getting it registered. But when the online facility will be functional, they just have to visit the website, fill in the correct details and register the property without any hassle. [Read more…]

Property Prices Drop in South and Central Delhi

Noida and Gurgaon are the two major property markets of Delhi NCR that have been witnessing tremendous growth over the past decades. But the real estate market of Delhi has not been performing very good. Zee News reported real estate consultant JLL India’s report that showed that the property prices in some of the popular residential colonies of the national capital have seen a downward trend. Property Prices Drop in South and Central DelhiThe dip has been up to 20%. This trend was shown in the prime localities like Jor Bagh, Vasant Vihar, Defence Colony and other parts of South and Central Delhi. The property prices South delhi and Central Delhi locations has fallen down by 15-20 per cent in 2013.

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