91视频

Knight Frank 91视频 report for Q1 2026 stated that 4,763 units were sold in the residential market, a 9% year-on-year growth from Q1 2025, when 4,357 units were sold. A comparable increase of 12% was seen in the launch of new residential projects in Q1 2026 (5,112 units) compared to Q1 2025 (4,576 units).

The Tamil Nadu Urban Habitat Development has contributed about 42% of the total number of new residential projects including a 1,500-unit scheme in Tondiarpet and 702-unit scheme in Mylapore.

Some key reforms in the preceding year in the real estate ecosystem warrant mention.

Simplified and Transparent Administration of Registration (STAR) 3.0: full system update. A recently released circular aims to modernise the Registration Department and bring more online services for people in Tamil Nadu. This reform will lead to: paperless property registration; the registration of key documents (such as the sale agreement, lease agreement, deposit of title deeds, mortgage deed, receipt deed, and deed of trust) without visiting the sub-registrar’s office physically; submission of applications on an “anytime, anywhere” basis; online availability of instant certified copies of documents; easier and quicker online property (encumbrance certificate) search and process for obtaining certified copies; the use of a mobile app (TNREGINET) and WhatsApp updates for the provision of services); and online registration of apartments and associations. The uptake of digital infrastructure is driven by a motive to enhance accessibility and speed without losing efficiency.

Originals mandatory for registration. The non-traceable certificate (NTC) is unclear in property registration due to a lack of uniform verification mechanisms. However, there are contrary judicial views clearly noting that the NTC alone cannot substitute original title deeds and may not prove ownership. In Tamil Nadu, the recent 2025 amendment to the Registration Act, published on 23 January 2026, by inserting section 34-C has brought renewed focus on the NTC and mandatory production of original title deeds.

The law now requires executants to submit original ownership documents. In case of lost documents, an NTC issued by a police department, supported by a public notice, is permitted but under scrutiny. This legislative update aims to reduce fraud, resolve conflicting judicial interpretations on NTC validity, and ensure uniform verification of property ownership across registration processes.

For second and subsequent sale of apartments/flats, building inspection is not required. As per rule 3 (1-A) of the Tamil Nadu Stamp (Prevention of Undervaluation of Instruments) Rules, 1968, if an instrument relates to a building, all details related to the building must be specified. As a building inspection must be mandatorily undertaken by the sub-registrar for any value less than INR5 million (USD52,650), and inspection by the public works department for any value more than INR5 million, there is much work regarding the inspection of the second and subsequent sale of an apartment/flat with a delay in returning the original document to the purchaser.

A circular dated 22 January 2026, notes that the building value should be determined without a building inspection for the second and subsequent sale of apartments/flats with amenities like car parking and lifts. The original sale deed must be returned on the day of the registration.

Tamil Nadu Real Estate Regulatory Authority (TNRERA). The TNRERA has introduced a Three-Account System to Strengthen Transparency, dated 12 December 2025. Under this structured banking framework, developers must maintain three separate bank accounts, supported by automated fund transfers and controlled withdrawals. This reduces the risk of fund diversion and improves financial transparency. While collection accounts receive all payments made by homebuyers (100% fund allocation), separate (70% fund allocation) and transaction (30% fund allocation) accounts are used exclusively for construction, and land and project-related expenses, respectively. This reform ensures greater accountability, elevates compliance standards, and offers greater buyer protection.

These developments hold powerful promise: the real estate sector is witnessing steady growth in Tamil Nadu, thanks to public demand in home-buying, enhanced ease in registration procedures, and implementation of strong regulatory oversight mechanisms. The transparency, efficiency and buyer-friendly reforms are welcome changes for the sector.

Associates Mhadhavan LV (mhadhavan@peritumpartners.com), Sandeep Kumar (sandeep@peritumpartners.com) and Sujitha S (sujitha@peritumpartners.com) contributed to the article.