Slowdown in Chennai Property Transactions

The number of property transactions in Chennai and its immediate neighbouring districts has come down by 10- 15% in 2007-08. In the first half, the city’s three zones – namely North, South and Central - registered about 3.7 lakh documents and netted about Rs.1,384 crore in terms of registration charges and stamp duty. Of these transactions, about 80% was property related. The second half of 2007-08 witnessed a slowdown.