The post pandemic surge in property registrations in the State is mainly attributed to the resurgence of the economy - backlog of property sales during the pandemic being cleared now, investments in property in Bengaluru and farm lands elsewhere in the State picking up, among a host of other factors.
The first explanation many give is that there was a COVID-19 backlog being cleared now. “The guidance value rebate has had a positive impact. Many who were waiting for normalcy used the opportunity to register their committed property,” said Suresh Hari, chairman, Confederation of Real Estate Developers Associations of India (CREDAI), Bengaluru.
However, neither the industry nor the Inspector General of Registration and Commissioner of Stamps (IGR&CS) agree that only a backlog clearance fuelled the phenomenon.
