Chennai: Deed registrations at sub-registrar offices across Tamil Nadu have reportedly slowed as many home and plot buyers choose to postpone registration due to election-related procedures.
Tamil Nadu has 589 sub-registrar offices, where typically about 100 to 200 documents are registered per office each day. On auspicious days, registrations usually rise by more than 50%.
While cash transactions in property sales are barred, deals are often negotiated at market rates, with part of the amount allegedly exchanged privately. With the election model code in force, cash carried without proper documents is being seized by flying squads, making buyers and sellers hesitant to move cash.
As a result, many are opting to complete registrations after the elections. A registration department official said deed registration has no direct link to cash exchange, but footfall has dropped sharply since the election announcement, with many offices issuing only one or two tokens.
The official added that registrations generally dip in the first month of the financial year, and people often plan to register after the Tamil New Year. However, the current slowdown appears to have intensified due to election procedures.
