The cabinet nod has come days before the first bench of Chief Justice Indira Banerjee and Justice M Sundar is to decide on the issue. The September 9 court order crippled the registration department, one of the prime earners of the government. The state earned a revenue of 7,007.74 crore through stamp duty and registration charges last year a dip of 18.16% when compared to last year. In fact, it’s much lower than the revised estimates of 7,985 crore for the last fiscal, government sources say. The number of properties registered too nosedived to 20.27 lakh in 2016-17 from 25.28 lakh in 2015-16. “The regularisation scheme approved by the cabinet has also proposed to reduce developmental charges for getting approval in certain villages,” a source said.
CHENNAI: In a significant move, the Edappadi K Palaniswamicabinet on Tuesday approved a regularisation scheme for unapproved plots which would help revive the real estate sector. The Madras high court had, in September last year, issued a blanket ban on registration and re-registration of plots on unapproved layouts. Approximately 13 lakh unapproved plots are spread across 26,000 layouts.