The real estate market is once again booming in the Chandigarh periphery, if the official figures of land registration deeds in the Majri Tehsil are any indication.
In view of the prime location of the areas falling under Majri sub-tehsil, a large number of influential persons own major chunks of land in the Chandigarh periphery.Majri Tehsil covers the area under Mullanpur Garibdass, the area under the report by Jurrong International. This area covering 29 villages will have a brand new township adjoining Chandigarh
The number of land registration deeds touched an all-time high in two years at 446 in July 2008, followed by 393 in August 2008, after plunging to as low as 163 in September 2007.A record revenue of Rs 7.51 crore was earned in July 2008, on account of Rs 7.32 crore stamp duty and Rs 18.45 lakh from registration fee. The second highest revenue of Rs 6.64 crore was earned in June 2008 from registration of 366 land deeds on account of Rs 6.5 crore stamp duty and Rs 14.25 lakh as registration fee.
The recession in the real estate market last year, was evident from the lowest revenue of Rs 63.27 lakh recorded in October 2007 when 218 land deeds were registered.
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